Help with my first deal!

[Gary McDaniel]

Hey BP Family,

So I've found my first deal in the Long Beach area that I think would work great as a AirBnb property.  I haven't physically seen it yet because I live in North Carolina, but I've visited the area within the last 2 weeks.  I've talked to a lender and they are willing to finance for up to 80% at a 4-6% rate amortized over 30 years and the owner is willing to carry for an additional 10% with an interest rate of 6% for the first year, 8% after that and balloon in 3 years. I plan on refinancing into a traditional mortgage by the third year to cash everyone out and bring down the payments.  My question is what are some creative ways to come up with the remaining $20K or so?  I really don't want this deal to slip through my fingers because it's in such a good area, but financially I don't have the resources to be able to make the down payment.

Does anyone have any tips, warnings, or know of an alternative way that I could structure it?  

Thanks for any help!