Multi unit Financing Strategy?

[Gigi Daniel]

Hell BP friends, we have an deal for an apartment complex (sorry, limited property data due to signed NDA). The agreed prices is $1.75M, FNMA loan is at $1.4M and have Seller Financing option for $200k. The CAP rate is over 8 and a good cash flow property. FNMA do not allow Seller financing with agency options. We want to use the Seller Financing to do CAPEX with a promissory note and stay within FNMA rules, is this possible?

Thanks,

Gigi