Structure a Multi-Family Offer

[Natasha Sumner]

I am working on an offer for a 10 unit and want some assistance on structuring the offer

Here's the scenario:

Seller wants $750k and owns free and clear. We purchased another property from the seller 10 years ago and have a good relationship. She is now a widow and can't keep up the property
GOI is $74,640 and NOI is $37, 590 = way under market
Potential GOI is $95k and NOI of $76k
Rents are extremely low as she has owned the building  for 60 years. One tenant has been there for 45 years.

We would offer owner financing with 10% down at 4-5% interest and would refi in 2-3 years when we get rents to market. She is hesitant on holding all paper but the short term is inticing to her. I would persuade her that do to the NOI we couldn't finance it for $750k. I also just hate dealing with banks and I know we could get this building up and running properly in 6-9 months. She is open to a few scenarios so what do you think?She we do interim financing and at what cost. We could also borrow on our free and clear property but again don't want to hassle with banks. Also, she is including a lot that we would build storage units on which would generate additional income. Any thoughts are appreciated. Thanks,