Dead lead or potential deal?

[Eladio Perez]

I saw this house boarded up and placed a sign that I'm interested in buying cash ( I'm a wholesaler). He called me yesterday and in went to see the property. This is in Providence, Rhode Island, south side by Broad St with Comstock ave. Its a 2 building property, one has 3 units plus the basement, the other one is a one family unit, the ARV is 210,000, i walked the property and saw that it has fire damage in 2nd and 3rd floor and the attic, RRHAB is about 100,000, all 3 units in the 3 family house are vacant. The other one family unit is occupied. He owns the house free and clear. He is not motivated and says he's working on it slowly . "Im not giving this property away for less than $400,000" thats what he said. Im thinking is this guy nuts??! Rent in that area is about 1,000 per apt. Its obviously a good buy / rehab and hold property but he's just crazy with the math. I was thinking if there was some way of seller finance approach that i can take but his price is too far away even for a 30 year loan that balloons in 5, plus i don't have good credit and I'm a newbie. Would a hard money lender approach work here? Is it even worth it?