Help with creative financing purchasing a 4plex

[Adeva Edobor]

I'm new to real estate in the sense that I've only done one deal (two if you count my primary residence) but analyzed a thousand. (I know, analysis paralysis) but my goal is to take action this year.

I spoke to a landlord who's considering selling a 4plex. They've expressed that the property will need work so probably won't appraise at market rate for the area. I intend to offer $1m and expect each unit to rent for $1,800/month. All units are standalone 1bdrm 1 bath on the same lot. I haven't inspected but estimate no more than $100k in repairs. How can I structure my offer to look good to the seller and come out with $100k cash for repairs?

I thought of doing a 403k and living in one unit but I've heard those are a nightmare.

I've considered a conventional loan and then refinancing to get cash out for the repairs (I don't know how soon I can refinance after purchasing)

They own the property free and clear so maybe seller financing may have a tax advantage for them but I'm not sure how to present that.

I figured I'll bring this up in the world's largest and most intelligent real estate community. Help!