Not Taking No For An Answer!

[John Verner]

Hi All,

This is my first real estate deal. I will not take no for an answer. I would like some suggestions on how to make this deal happen. 

It's going for 350,000, and the deal includes 5 single family rental properties. The houses are worth a little over 400,000. The seller won't make the deal unless all are bought at once. Not sure what type of loan I need. I can get 5% down. I am taking a contractor along with me to look through the houses to find stuff that needs repair. I feel I can negotiate the price down hopefully to 300,000. The five places already have tenants and bring in $4000/m. I would cash flow about $1000/m. 

Has anyone done half financing through bank and half seller financing? Is it possible to make an agreement that after I buy the house I can make a larger down payment after I appraise the houses and take out an equity loan?