Commercial loan + Seller Carry Back Option

[Ryan Neiswender]

I have an opportunity to by a 6-unit property for $300K with a $240k Commercial loan and a Seller carry back of $60K at a 6% interest rate with a 5-year balloon. 

Carry back would be interest only payments for the 5 years. 

The property would cash flow ~$100 a month after all expenses. 

In this market, yearly rent increase of $50 x 6 units is expected. The goal would be to refinance after 5 years, use appreciation to pay off 60k, and cash flow would continue to increase over time. 

This would be my first time looking to do a $0 down investment property and I am looking to seek advice from those who have experience with similar financing. 

Thanks, 

Ryan Neiswender