You might offer:$3K down paid to seller at closing$450 paid to seller every month until the $97K balance is paid in full (in just over 20 years)If accepted, you've just bagged yourself $97K at ZERO (0!)

Current balances Primary Mortgage 53K, 2nd Mortgage 18K I have to pay the 15K grant and the 1.7K loan when I sell this gives me a total of about 88K I will need to pay back.

So it's kind of a balance what you want to do.The rent to sales ratio means if you had a 100,000 house throwing off 1,000 a month rent that is 1%, 2,000 2%, 1,500 1.5%.Yes 2% is very hard to do unless in an average area.

House is really nice brick home, no recent property info, have left message with auction house, they require $5000 down pmt, which i can come up with, 6% buyers premium, and 30 days to come up with balance.  

Example #1:1 - Bring in a cash partner at <fill in the cost to buy in and % of returns they are buying>2 - Put a timetable on their involvement, with a payoff of their original capital + returns.3 - Use the funds to pay off the remaining balance in the original property's debtExample #2:1 - Bring in a cash partner that pays off the existing debt completely, and give them a guaranteed return based on the time it will take you to do the conversion and sales.2 - Use the funds to pay off the debt.3 - You now have 100% equity, and you're freed up to get the needed funding for the conversion...and all of the original funds back for use moving forward with your next deal...simultaneously. 

You could just leave this balance and pay it $20 at a time, but you'll pay 20%+ interest. 

I've found its been a balancing act of choosing cost over quality, speed of completion, etc when choosing between a using GC's, contractors, and hired labor.  

I have the rent roll attached but I am VERY concerned about the "Current Balance" from the property management printout.  

ARV: 90kRepairs: 15k Mortgage balance: 70k (current)Home built in 1977. 3/2/2 1700 sq. ft. 

Perhaps they defaulted on some low-balance medical accounts (I wouldn't give that a second thought) and they have no other accounts.