Potential 35 Unit Deal! Here are the Caveats.........

[Johnquel Jones]

So, I have been shopping around for different deals that I can find within a 3 hour driving distance from my current location. And, now I think I have one and would like some guidance. I have little if any money for this deal which makes it interesting to me. Why you ask? The seller is offering up the possibility of seller financing (possible is good enough for me). There are some blemishes however. The property is operating at a 12% CAP rate, is being offered for 699,990, and the NOI is 84k--verified by my Math to ensure what I was seeing is accurate and assuming you are not a stickler for $10. Also, the occupancy rate is 25% due to a recent tenant overhaul. On the plus side, the property was recently renovated (so I read...I still need to contact the seller). What do you guys think about this deal? How can I structure it to take advantage of the seller financing offer?