I have a deal working and am going to need some financing. The owner wants 350k. It is .50 acre. It has One 2/1 home that rents for 1k, It has a Two Story apartment that needs some renovation. It is 2/1 upstairs and downstairs. Both apartments rent for 675 a piece. That rent is seriously under valuated and can be brought to 1000 per apartment once reno is complete. It also has 5 trailer homes. 2 rent for 550, and 2 rent for 750. These trailers will be renovated as tenants move out. These trailers can be renovated for 800-1000 each upon renovation. Current rents sit at 4800 total. Potential rent is 7k or above. We have room on the property to add an additional 2 homes (pier beam) 2/1 tiny homes and rent for 1000-1200 each. As the trailers are depreciated completely we would like to replace those with pier beam homes, and or 2/1 tiny homes that rent for 1000 each. The want is to have 1000 for homes - 3000, rent for apartment 1600, and rent for homes instead of trailers at 1000 each - (5000 total). This would bring complete stabilized rents to 9600.

The question is this! You will have to forgive my ignorance here! The owner says that he is willing to seller finance. However, he wants to hold contract to Deed. How would a experienced investor approach this? It makes something like getting loan for 200k and seller financing 100k impossible, as I understand it, because he is basically in a 1st lien position? Is that correct? Can someone please enlighten me as to how to structure this deal in a way that is a win for everyone?