Master Lease Option Apartment Building Purchase

[Ricardo R.]

Hi everyone, I am looking to purchase an apartment building and after much searching I have come across one in which the owner is willing to do a Master Lease Option on. Here are the terms: 

1. Purchase price: $335,000
2. Down payment: $70K
3. Amortized over: Over 30 years at 5%
4. Balloon payment in: 7 years
5. Option to by at any time through out the 7 years. 

My question has to do with the terms, do these seem like good terms for an MLO? - The Seller wanted to sell but after finding out that they would get a huge tax bill is now willing to do a MLO but they also need a big cash infusion. Is there any thing here were I could possibly get better terms or are these already decent terms? 

Also, does anyone have any points for the Master Lease Option, my main concern has to do with the amount of money down and my exit strategy.