Creative financing help.
I have a deal to purchase a great property in a great area for 150K. The issue is there isn't room for much value add, maybe 20-30K under market value, also the seller plans to do a 1031. I will have 20% to put down to purchase in about a week, but don't want to use all my cash effectively halting my purchasing power until I can save more cash. I am looking for a creative solution to acquire the property with as little cash out of pocket as possible? I have spoken with the king of 1031 Dave Foster and he is currently on the case, but wanted to get other ideas as well.
Few ideas I have come up with are:
1. Rental arbitrage
2. Lease option for 12 months
3. Seller financing anyway possible allowing them to 1031. I even considered using my own 30K as the 20% down, then have them "pay me back" after the 1031 is complete. Not even sure if that is a thing.