I may have a deal, but I need help with creative financing

[Ryan Plummer]

I recently met a gentleman that owns a couple rental properties with his 2 sisters.  He loves the cashflow and sees the benefits, however, the sisters both want out and hate dealing with any of it.  They put both properties on the market but neither has sold as they are overpriced (his words).  I see the sisters as potentially motivated sellers in a property that has some equity.

My goal: partner with the current owner that wants to stay and 'buy out' the other 2 owners.

The parameters:

-  Let us assume they currently have 50% equity in the property.

-  Gross income from one property is $4,000. (Let's focus on one property as the same strategy should work for both)

I do not have a lot of cash to put into the deal, however, I do have access to relatively cheap money if there is no other way.  

I need help in how to structure so that the sisters get a decent payout, the current owner gets to continue with his equity in place, I enter the deal with low/no money down, and there is cashflow in the end.

Can it be done?

Thanks BP!