Financing options for investing in rentals!

[Trapper White]

Hello everyone! I have recently come across a great deal! Someone I know is selling 5 rental properties for a total of $315k. I have run comps and estimate the total value to be around $515k. I don’t have much money to put down as a down payment (not 20% at least) but I do have other peoples money I can tap into. What I am thinking would be the best option is to buy the homes with seller financing, which the sellers said they would entertain, then once the deed is in my name I go to a bank and refinance and avoid paying much of a down payment being I would have at least 80/20 loan to value. The reason I say I would refinance is because the sellers wouldn’t like to hold seller financing for more than 3 years! If anyone sees any overseen flaws in this strategy to obtain these properties or has any tips or have done something similar please keep the conversation going! I am in north eastern NC and am also a licensed real estate agent here in North Carolina.