Looking for Advice on Seller Financing w/ Wrap

[Brandon R.]

I'm a new investor looking for some ideas on how to put a deal together.  I've been in contact with a seller who has an acreage tract with a newer manufactured home that has been tied to the property.  There is a tenant in place, under a one year contract, paying $1050 per month.  Seller is asking $110k for the property.  A few months ago the seller was willing to carry the note, with a 10% down payment.  Since that time the seller obtained a cash out refinance for $50k, with Wells Fargo.  While I regret not having secured the deal prior to the refinance, I still believe it is a good deal, and would like to work something out.  I believe a wrap would work, but the seller does not like the idea.  A local bank would finance the property with a 20% down payment; however, I do not want to tie up that much cash in one property, and the bank would charge 6.5% interest on the note.  Looking for ideas on how to make a deal happen, if a deal that makes sense is still possible.  Thanks.