HAS ANYONE EVER DEALT WITH PRIVATE LENDERS WHO GIVE EXTRA MONEY?

[Vik Divinets]

I have a 28 unit apartment building under contract and have a private lender who is willing to give me more than the purchase price and then have the seller "forgive" the remaining balance. Which I think is fine, but this is my first time doing this with a private lender and really need to know if this is good or bad in the long term? 

Are there any seasoned investors out there that have experienced this before, and what should I expect?

Thank you