Newbie trying to get this deal done Seller finance

[Eric Emond]

Hi all, I would need your advice on my first property. I have 2 sisters willing to sell a small house in Quebec Canada, as part of their succession 70k below market 230k city evaluation 300k . The problem with the house not selling is that it is small only 2 rooms and an no finish basement. I have 3 options

a) make it 2 apartments main floor and downstairs (add 25k to create) (already have a 1 tenant)

b) finish downstairs and flip the house for a profit: can probably get 330k for it

The problem is financing this would use all my finances. The sister have no mortgage on the house so could I make them 2 deals? A smaller deal with my finances (offer 190k) 

OR

I learned on the BiggerPockets book, the seller financing option, have them become my finance, be the owner of the house with them financing it. Make the changes to a buy and old for a few max 5 years then ren it out, sell it for them to receive not only a montly paiement but also their asking price of 230k. This way I do not use my finances and I can go on to other deals.

Can someone tell me how to present the 2 options or should I present both or only one. 

For seller financing how would I build the deal? How can the agents get paied and money for the renovation.

All your advises are very important to me, I want to start my investing adventure on the right foot