Owner financing offer help

[Thomas Loose]

Ok so any help would be appreciated.

This is my first post so, Hi!

I have been looking at a few multi family properties, and found one I liked but it’s outside my budget.  

Even with a fha loan they want a higher down because my credit is at the lower end of the acceptability scale.  

Been working on fixing it but, I heard the podcast on bp that was explaining using different types of funding and being creative.  Also not sending one offer but three.  

One all cash but way low balling

Two was closer to asking and a high interest 

Third was real close to asking but lower interest 

Can y’all help me figure out the offers?  Some contingencies?

Possibly 60% cash and find a hard money lender for 12 months then refinance 

Second being 80% and 3k bonus at signing

if I can get him to owner finance with me taking over for a year, him getting a percentage of the cash flow, and me agreeing to buy at appraisal with a cash bonus (5k)  at signing.  Do you think this is a good deal to base the three offers above on?    Obviously this one being third option. 

I want to have full control of the property and cash flow, pay the mortgage and other expenses and then split the cash flow for 12 months so my credit can get closer to 680 and I can have a higher down payment.  

Here’s some info on the property:

Asking 144,900

taxes 1900

Top and bottom unit

Bottom unit a 2 but possibly 4 bed with work 2 bath

Top is a 1 bed 1 bath

Huge fenced in yard. 

No damage I can find

Cash flows at $222 a month