Hi Joshua, If the home you buy appraises for the purchase
price, you cannot heap another $100,000 loan on top - there
is nothing left to collateralize. However, if the neighborhood
comps and an appraiser and your lender agree that with
$80,000 worth of repairs the home would be worth $300,000,
you may be able to get additional loan money to do the upgrades/repairs that you seek. I am a Realtor, not your banker. Take this question to your Lender and get a real answer before you make an offer.
Best of Luck, Marita