You are solving a problem that they have, not pitching mindset shifter....

The initial question is one we would all like answers too but you can’t force anything, especially numbers, so if you take a loan with the risk of running out of cash, you’ll be without a paddle up ***** creek and your only luck is depending on someone else.

I will say if you didn't run the numbers prior to purchase, compare rental rates, or accurately estimate the "mild renovations" you could be up a creek without a paddle. 

Any sales price over $440k plus closing costs is cash in their pocket.If they really owe $730k then they are up a creek without a paddle and the only two options would be a short sale (which they have to work with their lender to accomplish) or just stay in the house until they are foreclosed on and are evicted.

Here are some general specs: 8 br/4 ba Over 4300 sf3 storiesMajority of the house outdated Lots of knotty pine ceilings and walls Unfinished basementMissing copper pipes (stolen last year out of the basement and never replaced)Roof 10+ yrs Well waterSeptic systemPond on property (large enough to paddle boat on)My plan of action is to first see if the owner will allow me to get a pest inspection that I will provide to a contractor and ask for a bid.

I've listed below the order I plan to attack things in, let me know if this sequence makes sense:Resolve excess moisture under house (minor grading issue, gutter required, possible plumbing leak)Repair minor roof leaks (repair flashing, seal leaks around chimney, replace tree-damaged shingles)Trim trees away from houseInstall 50 concrete piers and level foundation (foundation had work done previously but shifter due to excess moisture)Install vapor barrierAdd structural roof support beams in attic, add insulationRepair rotten siding/soffit/window frames (mostly upstairs)Repair porch (replace rotten boards, sand & paint)Paint exteriorInstall central AC/Mini-split system (any recommendations on this?)

Purchase price: $13,319 Cash invested: $13,319 Sale price: $15,000 Keep paddling, I can still hear the banjos!

No power yoga on a paddle board as the sun crests the majestic mountains.

Lots of ways to partner on this one but at the least we will need a sell side realtor as us Florida Boys are up the creek without a paddle.

Sold my shifter and Spec Miata to focus on building the business and WILL be back at the track in the next 12 months!