Interesting deal, need help!

[Brandyn Dietman]

Hey yall!

I am currently working a deal that I need a little help on.  I have a property that has 2 apartment units and a bar.  The bar is currently making money, and the apartments are not being utilized, but after a quote, would only take about $1,000 a piece to get up and running.

The owners are sisters who inherited the property from their mother, neither of which are currently involved with the property other than receiving $600 a month for the rental of the bar.  The sisters are interested in selling the property and the man running the bar is ready to be done running a bar.  This is an off market deal, and I have people in place who want to continue help running the bar, including the current man, and handy family members to aid in some renovations.

I have been going back and forth with the owners of the property and have come to a semi deal of $150,000 for the property and business with everything included. Here's where I need help.

I asked a realtor I work with about brokering the deal for me to help but he felt it would be better to have a realty attorney so I could get a solid contract and representation after I close. 

The deal is a 5 year land contract in which I will make improvements to the property, and have access to rent out the apartments as well as run the bar.  The sisters want a down payment and interest on the deal which I'm trying to decipher a good amount. I want to be protected from losing the property if the sisters decide I've put a lot of work into the building and business and it'd be easier to sell and want to find out the best way to set up the aspects of being protected against lawsuits with a bar and liability associated with having apartments in the same building.

If anyone knows anyone in Milwaukee, Wisconsin who may be able to help and is affordable for a newbie I'd love to talk to someone!!!

Thanks,

Brandyn