Need Advice on Financing- SFR Under Contract in MI

[Ryan Kuja]

Hey BPer's,

I need some insight from you more experienced investors. I have a foreclosure under contract in Michigan, a 4/2 that I'm going to owner occupy. The ARV looks to be around 155-165K, purchase price is 86K. Needs probably 18K in repairs. Here is the problem: I am having trouble with financing it because of the repairs required (section of roof, burst pipes, floor joist). Anyway ideas? Would it be possible to do an FHA 203k on a property like this? Do hard money and re-fi out of it? Any thoughts?

Thanks!

Ryan