Hello Everyone from my BiggerPocket community,

My name is Fod, from Greeley, CO. I need your help on advice to my topic.

This is my first deal, God's will. I have an offer accepted on property 2 blocks from the UNC, the property just appraised at $250,000 and the comps around it at $275,000. If it TLCed (Paint & Carpet) will bring $275,000 easily, It's been rented for the Past 3 years at $1,800 monthly, but I think with the $10,000 TLC will bring the rent to $1,900-$2,500 especially if rented by room ($500 per room), I was planning to wholesale it if the owner accepted my $190,000, but he wouldn't go under $220,000 especially that he has a $250,000 offer from a person who's using a conventional loan, and I told him about all the costs he's going to pay if he closes with the conventional way (closing costs, commission, etc) and that might not even go through. He accepted the offer if I cover all closing costs and sales costs. here's the options I thought of:

1) BRRRR it, $176,000 hard money loan and 20% down-payment which is $55K ($44K down-payment, & $10k rehab) cash Needed which I don't have at this moment.

2) Wholesale it for $5K-$10K assignment fee. that only gives a flipper 8% but it's a good option for a house-hacking or a land-lord.

I thought of finding a private money lender for the 20% I know it's doable but my resources are very limited.

I ran the numbers on renting it and then Brrrr it and it brings $698 per month CASH-FLOW which is 15.1% ROI which is great.

WHAT and WHO do you all recommend and advice ?

Best Regards,

Thanks.