Creative down payment suggestion on owner holding note

[Christy Socash]

I have been working on a 23 property portfolio mixed with SFH's and Multiunit houses, cash flows nicely with good COC ROI, for $2.3 million. The owners are an older couple who is willing to carry the note. One partner would like a down payment but the other partner realizes that without creative financing 10% down may be too much. We recently maxed out our cash reserves on another large commercial property about 6 months ago.

One thought is to balloon the profits every year over a couple of years to make up the down payment (which they would be willing to accept 10%) and is conservatively $25,000 a year. I do not have any HELOC to pull form at this time.

Can anyone offer their thoughts? Any creative financing ideas for this project?