This looks like a solid redevelopment play — especially with the spread between ~$800K as-is and ~$2.4M ARV, even factoring in the $600K–$900K construction range.
I work with investors on similar situations where there’s a need to cure foreclosure and structure construction/bridge financing, either directly or through capital partners depending on the deal.
Happy to take a look and see if there's a way to structure this cleanly alongside your JV approach.
Quick question — do you already have a finalized scope + contractor lined up, or is that still being locked in?