Advice on offering on multiple properties

[Jamie Gruber]

I have a potential opportunity to acquire multiple properties from a single seller and wanted to get some advice from folks. This would be my first time attempting this. The properties are 4 duplexes (8 units) that were purchased in 2007 by this owner for about $380,000 combined. One is in really good shape. The rest need work. The repair budget in total would be up to $100,000. I've played around with numbers and believe the debt the owner still has combined is somewhere between $250-$280k. These are all listed on MLS for close to a year by the same agent. The owner lives 4 hours away right now and wants to sell because he has to move out of state completely. There is also one tenant to evict. Between his need to move, the eviction, the state of these properties, and the length of time on the market, I have to believe this seller is motivated. The realtor is frustrated with the seller because he's been difficult to get a hold of. Whoever his property manager is, he's non existent. The tenants are unable to get him or the owner on the phone to take care of issues. One tenant even said a neighbor will just mow the lawn so he doesn't have to look at it being out of control. I'd like to structure something that takes all 4 properties off his hands but at a price that will allow for adequate cash flow and the ability to refinance a short term loan for repair and purchase. The problem is, I'm calculating an offer at $200,000 which is at least $50k below what he owes. Obviously I can make that offer, but I'd love to hear some ideas from more experienced folks out there. There's leverage here given the factors above but I want to get some advice and creative strategies to solve this sellers issues and get a good deal. Thanks in advance for any help!