Price negotiation on a multifamily Apt

[Eugene Reamico]

I am about to negotiate on the purchase price on a multifamily apartment. The property is owner managed, out of state, never renovated the property all the years of ownership, good location and mis managed . They are also open to seller financed and are asking 6.5 million . We are offering $4 million @ 10% DP and 5.5%/yr interest for a total of $5 million in 5 yrs. What is the best way to negotiate ? or are we offering a very low number?