Coming to terms w/ seller on 5-unit w/ signif. negative cash flow

[Jocelyn Canfield]

I am looking at a property I REALLY want...but at their asking price, we are at significantly negative monthly cash flow (-$2500). This is assuming me dedicating $ to capex, R&M, Prop Mgmt. I'd like to live in one of the units here, which would also take $2000 income out of the mix. My question is, what negotiating strategies can you employ to REALLY move people from an asking price that is $400K too high for a commercial property? I realize that I will probably not get this property. But I want my best shot. I'm willing to take -$500/mo cash flow. I want to sit down with them and go over the numbers, but this is an estate with 5 adult kids who want the $$$. Being commercial, lending terms are not helping me any. I want a fixed rate so I have to go with 20-year term.