Need analysis & help with funding

[Anne Barton]

Hi,

I have found what looks like a good deal. It is for a single family home in a very good neighborhood.

* House price - $195,000
* Needs 25-30k for repairs and remodeling (has broken windows, needs new carpet, minor roof repair, previous owners took off with the sink faucets, etc.)
* The ARV (based on comps) is $290,000
* The Zillow estimate (most likely incorrect because it's displaying less than half the actual square footage and too few bathrooms) is $258k

Because of the repairs that need to be done, the bank has told me I need a renovation loan, which would be an amount that is more than I can qualify for. (the bank is not allowing me to include income from a business I have been running for 1 1/2 yrs, they require 2 yrs of tax returns for the business)

So, if this is a good deal, I will need help with funding. I may be able to bring $10k to the deal, but that is not for sure yet as it depends on a separate deal closing in time.

Thanks in advance, I appreciate your help.