How do I make this deal work

[Sergio Correia]

Is this a good deal?

2 family with a partial finished basement

6 bed two bath 2 car garage and attic space for storage(or another room?)

-Roof will need to be repaired soon.

Owner owes 240k mortgage

Comps say house is with 300-325

Seller wants 325 for house (on the market)

Monthly mortgage payment is 1600

Monthly income- 2800(1400 each)

(market rent closer to 2000)

Raise the rent to 1800 x2 = $3600monthly income

Expenses: vacancy. CapEx etc 18% $720

720(expenses)+1600(mortgage) = 2320 -3600(raised rent) Cash flow $1280

Motivation-

-seller is tired of being a land lord and Wants to sell to downsize.

-Seller wants 85k (240k-325k)

Plan: if i offer the owner the equity of the house(tell him to get heloc or Refinance both will effect the monthly mortgage)

Cash offer: 85k (hard money) how will i pay this money back? Monthly will be high. Can I refi/heloc (with a power attorney signed by seller)remove the equity from the home to pay off lender?

If the mortgage is in there name won’t that effect the their home buying options?

Not 100% sure On the plan ANY advice and constructive criticism is Welcome! Thanks