Can someone help me make an offer on a deal?

[Vitaliy Fylyk]

It's a property in NYC (Brooklyn) that the owner asks for 5.2m but it won't sell because doesn't make any sense, NOI is 27xxx, 18 units + 2 retail. Even if someone put down 20% and financed 4,160,000 it would still have negative cash flow with current rates obviously. He wanted 35% seller finance for up to 5 years at 5.5 % but I knew it wouldn't make sense for me so I started drawing my offer.
My offer is 2m SF at 0% for 180 months and 2m I borrow at basically 7% for 30 years - which comes out to $13,306.05/m for loan and $11,111.11/m seller finance - now together it its $24,417 (NOI = 27,442-24,417 = $3,025) - very low cashflow but I would be able to refinance sooner or later and pay back the owner full sum, and better pray occupancy will stay at 100% for at least 2 years.
Is this crazy lowball? from 5.2m to 4m? Should I even try? I mean if I refinanced later on at a lower rate maybe then it would make sense - need help from someone with experience