It's in need of a cosmetic update, but the bones are really good.

I am not afraid of a home that needs work, but I would like to limit the majority of it to cosmetic repair. 

I spent that on an 816 SF house that only needed interior cosmetics, the exterior and mechanicals were all in good shape.I think you need to see the house and get much tighter rehab costs and a much closer ARV.

Recently found a short sales which may meet this criteria but would need much more than cosmetic repairs (~35K rehab).

Hi guys, I'm starting a cosmetic rehab on a SFR in Brentwood/Central Islip soon.

Earlier this year, we acquired a distressed property in El Paso Tx and fixed some cosmetic stuff as put it for sale.

Here's the scenario.A wholesaler sent me a property that I ultimately decided  to purchase for $12,500Wholesaler fee is $2500 so $15,000 all inDeal fell apart because we learned that that seller owed $25K on a second mortageShe is an older lady and is receiving social security, but no other incomeShe says the bank won't budge - they won't negotiate down the 25K debtProperty is worth around 30-35K, needs minor cosmetic (a few thousand) to be rent readyI've offered to pay 12.5K and have also offered a 5K loan that the seller would pay back to me over time but that only gets us to 17K.Any other ideas from you creative deal structuring experts out there on how to make this a win/win?

Paint and some other cosmetic items are excluded from eligibility.I've known owners who let those funds build, and draw them out at the time of a sale or refinance, and others who wanted the account kept at minimum levels and fully utilized. 

----Here's the scoop----The seller wants the following:Price: $400,000Down Payment: $50,000Master Lease term for 3 years with an option to buy at $350,000 and the option to extend the master lease for 1 yearAfter doing our due diligence, we have concluded the following so far:Property needs about $30,000 of must-do repairs plus about $3,500 of basically necessary cosmetics for marketing purposes, so:Repairs:  $35,5000Vacancy: 6/10 units are vacant and one tenant has been served an eviction notice, so basically 7/10 units are vacant.

I started selling soap making and cosmetic supplies (raw ingredients & containers) online from my basement in 2002.