How can I make this a true Subject 2

[Natalie Wade]

Ok so here is the deal I am working on. 5.75 % interest rate on an apartment complex that is currently 90% occupied and has a great manager and maintenance staff. He wants me to put down $300,000 and take over his payments. Property is now grossing over $40,000 a month and the payment is just less then 20,000.

The balance is around 1.9 million. and the loan is assumable

To my understanding a TRUE subject two does not require ME to put any money down, but actually he could pay me or simply walk away from the loan correct. How should I approach him about this? I am still doing my research on the property but I would like to take it over only if no cash is needed from me.