Best way to structure potential buy and hold deal

[Shane Newell]

Hi all. I've recently come across a non-listed property in one of my target areas that fits my criteria. Property rents for $2,600 without a single vacancy over past 12 years (owner showed me leases at least). Ask price is $185k and owner plans to list on MLS in June if he doesn't sell on his own. Owner currently owns ~$100k on his mortgage, so I think seller financing would be out. Thinking of pitching lease option or subject to with second lien held by seller as well (not sure if this makes any sense).

Wondering what the community might recommend pitching.

Thanks!