Have a Seller willing to finance apartment buildings, need help.

[Christian Beebe]

So although we've been doing real estate for a long time, we've never really done any seller financing till now.  

We have an apartment complex consisting of 15 units owned FREE and CLEAR. NOI is around $30k and the seller wants US to give them a price...they do not have one. The deal is solid so since seller financing is not our forte, need help or thoughts from those of you who know what they are doing.

Based upon our market, cap rates for this type of property in this are 8.5% which means we come up with an initial purchase price of around $352,000.  Also there is NO broker involved as this is an off market deal so they know they are going to save 6%+ off the top for no fees.  Beyond this, there is definitely some work that needs to be done to the property, nothing major (yet), just some good sweat and labor to fix some water leaks, make the place look better, replace boilers, etc.  Probably about 6-8 months of solid work for about $30k or so.  Property is currently 100% occupied and rents are nowhere near market rates.  Again, solid opportunity.

The company that owns this does NOT need the money (they are huge), this is something that they have by accident five years ago they are looking to get rid of as it's not in their wheelhouse.  

They bought it for $210,000 in 2010 and the market this property is in, is strong right now as people are buying properties left and right out of state without even looking a them (Midwest)

So, with all this in mind, we want to come up with a seller financing deal that would make sense to a company in this situation.  First of all we realize anything is possible but from a typical standpoint, what type of situation or numbers make sense or what would you offer or think about?  We are looking for reasons why this would benefit this company.  We are looking for scenarios of "we will paying a higher price of X if you finance this for five years at X rate".

And if even they don't finance the entire thing, let's say they just finance a good portion of it, 20% or more...again, what would be "typical" in this regards...five years?  less?  

I hope this all makes some sense, just need some people who have done this plenty of times before and can help us put together something that's a win/win for both sides.  

Thank you in advance.