Seller Finance and I dont have any experience

[Akinbowale Ajiboye]

I want to buy, rehabilitate, rent and refinance this property. I need tutelage and guidance. I have approached the owner and I offered him the option of seller finance. He has accepted and asking for 450 k down payment to pay off his 300K mortgage and give him 150 k while I look the 100 k to rehabilitate the property. I intend to expand the 4 bedroom to 6 bedroom and use 4  for AirBnB and occupy 1 room and retain the tenant that is using one of the rooms.

The value of the property is $1,100,000.00 and if I give $450000k as down payment. I will spread out balance payment into 200 or more payment and refinance later. After repair, it  will move the property to $1,300,000.00-1,350,000.00 

I need a lender that can be a second position financing and low interest loan for 24 months(2-5%) or an investor

and Advice on how best to structure the deal

Thanks for the anticipated encouragement

A.A