31 unit apartment- owner financing

[Misty C Traylor]

I have the opportunity to purchase a 31 unit apartment complex for 1.6 million. CAP rate of 6.5%. Current manager not aggressive so there is opportunity for improvements. Open basement with opportunity to create tenant storage rental space. Roof and CH&A units up for replacement soon. The owner is willing to owner finance. If you had the opportunity to set up owner financing on an investment like this what would your numbers look like? Would you offer 20% down? What would be an acceptable interest rate for owner financing? I want the offer to be good and would like this groups opinion on what a good owner financing offer would look like that would benefit the buyer and seller.