Best way to make this deal happen

[N/A N/A]

I am looking for some creative ways to make the following pitch to a seller. Here are the numbers.

ARV 205000.
Repairs est. 20000
asking 145000

My strategy is to rehab and retail.

Now in my calculations the following numbers are really thin to the point of not working when I take into account the hard money fees and holding cost that would be assessed. However, if I could get the seller to agree to allowing me to only make the monthly payments while I do the rehab I believe this would net around 15K. He isnt behind on any payments and is jsut looking to get out of the property as is has been a rental for him and he was burned on the last tenant. The seller has siad he would consider this option but I dont really know the best way to structure this so that I dont get the shaft.

I understand the principal of the sub 2 but nut sure it would work here as trhe owner wants tro get something out of the deal. I dont know the balance on the note or the monthly payments but it was rented for 1500. so I am assuming he isnt a total bone head and made some $$ on the rent so it has to be lower than 1500.00.

My experience has been primarily with straight buy sell deals and I would like to have more than one option to pitch to the seller. If I have to do a typical deal the offer would have to be about 20K lower and he may not let it fly for that.

So I am looking for some options and perhaps a little bit of an explanation on how to do said option.

I was thinking that we could draft a simple contract indicating the terms that I would make payments, rehab the place and then sell it and pay him at close the 145K and I would keep the balance. But everything I have read said to get the title and I dont know if the seller is willing to relinquish it as in a typical sub 2.

Can you sub 2 the house and then at close on the rehab give the owner the cash he is looking for. Perhaps that could happen and an agreement be reached that he would receive a $$ amount at close.

Am I making more of this than necessary??

Thanks for any input.