Purchasing a Business and Property - B&B

[Bryan Hylenski]

Hello All,

I have found my dream property and investment. It's a small B&B, that has positive cash flow and has opened their books to us, everything looks great and we would live on the property and run the business.  But, I have only every worked in residential mortgages.  My business owns 4 other properties, but these are passive income rentals. 

This business would be purchased Turnkey style, they are fully operatiional and net approximately 60,000$ a year.  The property costs 700K.  I have 20% to put down, but I don't know how to secure the rest of the financing thru a lender.   The owner is also willing to help with some of the financing, but since I will be buying the property, don't i have to finance 100% of the property thru a lender or can I do some thru a bank and some privately thru the current owner.

Can someone point me in the right direction? Help me ask the right questions, etc.