Seller finance question

[Guillermo Perez]

Does anyone have experience with seller finance? There is a house near mine that is abandoned. I got a hold of the owner by looking up his information on the county website. I asked if he was willing to sell the house cash? I was planning on doing a BRRR. I would use my HELOC to make the purchase and rehab. The owner said he would sell but at a very high price. Here's the details:

ARV- $210- $220K

Rent: about $1,900/month

3 beds/ 2 baths

Needs: New roof, New HVAC, New fence, Minot touch ups inside like paint and cabinet touch ups.

Rehab- About $40k

I offered $140K and he countered with $190K. Should I stop pursuing or is there a way to get this deal through seller finance?