Creative financing option?

[Daniel Kern]

Hello BP, 

I am interested in a local duplex. Seller wants 245k and Ive tried to negotiate seller financing but there is a mortgage on the property. Im trying to avoid the initial 61k down payment traditional lenders want in a multifamily. Does anyone have experience with assuming a loan? and if so, is it a possibility to assume a loan and owner finance the balance of the sale? 

For example, $100,000 balance on mortgage I "assume" (take over) and owner finances 145k on agreeable terms.

Just looking to add more units to my portfolio without a large initial outlay of cash, if I can avoid.   Thanks to all, enjoy the weekend!