Finding a Way to Structure a Purchase

[Travis Guyer]

Hey Guys! So I'm currently working on trying to purchasing rental property from my Grandmother. She's got a dulplex and 2 Single Family Residences ( 1 - 3/2 house and 1 - 2/1 mobile home set on it's own lot). She doesn't want to sell the 2 houses at this point, but keeps toying with the idea of selling the duplex because her turnover rate is ridiculous (pretty much every other month) and vacancy & repairs are nickel and diming her to death. She's always managed the properties herself and needless-to-say she's not good at it.  

To make matters worse for her, her only income besides SS are the rents from the properties and she's barely scraping by. She's 75 and  I think she feels like she needs to keep owning these properties to get by even though I can tell she hates it. I'd like to purchase her whole portfolio in one shot with seller financing so she'll still be receiving a check without the tax his, And I'd like to get her out of her daily headache of owning these properties.

She owns the houses outright but has a $35,000 mortgage on the duplex. I offered to purchase the duplex with seller financing, but she told me she had that mortgage on the property. I think she's depreciated all the properties completely as she's owned them all for about 30 years.

So my question:

What financing options do I have to try and stick with seller financing but also take care of that $35,000 portion of her mortgage?

Thanks in advance and let me know if you'll need more info on this situation.

Travis