Creative financing for deposit and closing cost

[Alix Cassagnol]

I have been working on purchasing this property since October 2019, then covid happened so I waited to negotiate more and was able to bring it down additional 60k. So the purchase price is 700k. I finally found some private financing that will fund the deal however I have 125k for deposit and closing. I am short about 75k. Seller was willing to seller finance with 200k down at 5%. I was thinking to have the seller provide the 75k at closing and sign a promisary note. Once I spend 30k to get CO's and add additional storage  units to adjoing yard the value will be 1.1 million. What are your thoughts?