How to structure seller Financing on buy and hold

[Vicki DeWan]

I am seeking my first buy and hold. I came across an investor who owns 60 duplexes in MD and is willing to owner finance for a year.  seller is looking to free up some time and selling a few.  Numbers are as follows: one side of duplex (2/1) rented for $825.  Other side same size needs approximately 30k in rehab and will rent for $825+.  Arv is estimated between 125-135k from identical properties.  Seller is willing to owner finance and may possibly finance rehab and asked me to submit an offer but will only finance for a year.  He is asking 80k and price is not negotiable.  I need some help on how I could structure this, as this is my first buy and hold.  Any suggestions are appreciated. 

[Vicki DeWan]

As an update I decided to pass.  As a first time buy and hold investor I don’t feel this was a good option.  A coworker lives in the area and said it is drug infested and cops there all the time. More than I want to deal with!  Looking at a duplex 4 miles away for $115 and total rents $1500 and one unit is $200 under retail.  This sounds more doable for me to manage!