Partner with existing multi-family owner

[Sal Sanshez]

Team, I found a MF deal on mls. It is less than 50% occupied. Owner has had it for 20 years and has a great tax base. They want way too much based on current condition. The property itself is in disrepair less than 50% occupied. What strategies could I propose to partner with the owner rather than trying to buy even if he carried the note. The property taxes alone would clobber any profit from operations while we renovate and get occupancy up. Im open to any and all ideas.