Need Advide on Giving the Seller Multiple Offers to Choose From
I am planning on making an offer(s) on a SFH that has great curb appeal, in a great area. The owner had a recent appraisal of $115,000. (seemed high to me based on the asking price of nearby homes) ARV 130's. Asking price $105,000. Needs about $17,000 to modernize it and to give it the "WOW" factor. House is sitting empty as siblings inherited it. Sibs live about an hour away.
My plan is to give the sellers 3 offers:
1) Cash offer of around $82,000
2) $90-ish with $5,000 down and the rest a seller carry back/owner financing at 5% interest. (About $455/month P&I, $672 or so with PITI)
3) Full asking price of $105 with $20,000 down and the remaining $85,000 in equally divided payment over 240 months. (which would be principle only payments of about $355/month)
These amounts and interest rates are flexible. My strategy if they accept the first (cash) will be fix and flip with buy and hold as a secondary option. For strategies 2 and 3, I plan to buy and hold, Rental rate should be about $1000 or more for this area.
I would love other suggestions about structuring multiple offers and how to get sellers to accept one of your offers. Thanks for the help.