Seller Financing on an Investment Multifamily

[Michael Willis]

If I only have 20% and banks are requiring 30% for a down payment, and I have no reserves after the down payment but the seller is willing to hold a note, whats the best structure for that deal to be made? 

1) I remit 20% and the seller holds the note for the balance? Interest only?

2) I remit 20% to the bank and the seller holds a 10% second mortgage interest only?

or is there a better way?

Thanks to all!