I totally agree with @William Brown.

Hope you're well.It say's the total cost of the project (price + closing costs + repairs) is $237,500 and your after rehab value is $220,000.I definitely wouldn't recommend starting off with negative equity in your project.You'll want to buy homes in the 105-115k range (or lower of course) for a deal like this one, if you can.If it needs that kind of work, the deals you're looking for are out there.

@Daniel T Vo Totally agree.

Like @Ryan Murdock mentioned, your best bet is to keep them paying you anything at all.

You bet @Neill Herbert there are some different things that folks use for costing.

Kitchen, flooring, baths not necessarily total amount  $ put in.

Might as well get it done then.Your best bet is to refi your loans down, graduate, pickup a job that requires your major (so it’s hopefully secure, and you and your kid(s) can still live life okay), then proceed to spend your extra time finding work that you truly enjoy (the earlier the better).

On the other hand, it will be in your best bet to find establish couple local construction companies and have them bid on the project.

I imagine the fees could eat you alive with multiple accounts, but being I am totally new at this, I'm not sure what is the best method.Thank you for your time, knowledge and advice in advance.  

She had a total due of a little over $900.