Converted tri-plex FSBO

[Mara Sargent]

I'm new to BP and looking to buy my first rental. I found a tri-plex that is FSBO. It's a 100 year old home that was converted to a tri-plex. It is in a very desirable location, clean and livable, but needs to be updated. Seller's gave me rent income numbers, but it doesn't cash flow at their asking price even with 20% down. Any suggestions on what to say to the Seller's without offending or making them mad?