Need out of the box, Deal Structuring Advice!

[Jonathan G.]

Working on a deal and hoping we can get some advice on how to structure this.

End game- acquire land and build  4 Duplexes and 2 Triplexes.

We are trying to finalize the terms to purchase 6 lots from the owner. He doesn't necessarily want a lump sum cash payment because he is wanting to avoid the high capital gains taxes for another 3.5 years when he will turn 65 and be in a lower tax bracket. So he is open to an owner finance setup. I like that idea, but, I want to begin building now - and I believe banks will want me to own the land myself in order to be able to use that land as collateral on the construction loan. 

I have a great relationship with the banker as well as the builder.

Is there a way around this? 

Can the owner agree to a second lien position or something in writing? 

How can I structure a deal where he will be happy and the banks will allow us to move forward and build?

Any ideas would be appreciated! 

Is there another way that I am not thinking of to structure this and make it a win-win so that he could make his interest right now and I could start the buildout? 

Any out of the box ideas that will help us both get what we would be appreciated. 

Should I also post this to a different forum? 

Open to anything! Thank you!