How to Structure Deal? // 8 house package from reluctant sellers

[Josh Stack]

Hey ya'll,

I have been in contact with some landowners who have approx 35 properties which they self manage. The properties are less than 30 years old, they build them and have maintained them well over the years.  The owners are in their early to mid-60s and have professed a willingness to sell if the price is right.  They will not do owner financing.

We have specifically discussed 8 single family homes which are clustered together and have an average rent of $565 but market rents are closer to $650 so there is some upside to raising rents.  The houses have a retail market value of approx 55-65k.

I have offered them up to 45k which is my best offer with a bank financing scenario and they are uninterested. They want retail price for their houses and have a plan to sell 2-4 annually on the MLS.

As they won't owner finance and I can't offer any more, do you know of any more advanced techniques that would allow me to pay a higher price for the properties but still have reasonable cashflow?

Are there some creative ways of structuring this deal that I'm missing?