As said by others the FHA 203k Loan in one option if the Condo is approved for FHA Financing. If not with 20% down there is a Conventional HomeStyle loan that works like the 203K. Finding a lender that does it is the hard part. I only do the FHA Version. A recent buyer I dealt with tells me they did find someone doing the HomeStyle loan. the other option would be is to have the seller complete the remaining items to be done with a change in the purchase price. I will try and find the name of the lender that does the HomeStyle if you give me a phone call.
If you want this property, the only shot would be a FHA 203k. To find out if this is possible, ask your REALTOR and mortgage loan officer about this to see if this is possible. If not, you'll have not choice (besides an ALL CASH offer) but to find something else.