Multiple-MFU finance brainstorming

[Matt Barker]

Hello BP gurus, I am new to the site and have been doing a lot of research on and off this site concerning multi family investing. I have recently been working with a realtor in my home town in Alabama who has been looking for a MFU for me to purchase. A gentleman contacted their office recently to inquire about property management of his 4 MFU properties (3-plex, 3-plex, 3-plex, 4-plex). The real estate office asked him if he would consider selling any or all of his units and he said that he would consider selling since he might want to move to Florida soon. I had the broker press him on whether he would consider any seller financing and what price he would sell each of the properties. What I've received so far is that he'd sell all 4 properties with a sizable down payment and then he would carry a 5 year note at 6%. Obviously a lot of information is left to be gathered and due diligence conducted but I do know that these properties are in a very desirable zip code in town and there are no other MFUs offered for sale (or for rent currently) in that zip code. I'm soliciting advice on creative financing options that may be enticing to a seller who wasn't necessarily thinking of selling, probably wouldn't have much difficulty selling, but may be starting to tire of self managing several units. His initial offer seems to say he wants a big cash cushion before carrying any note. Master lease, lease option, land contract, cash out refi assumable by buyer (is that even possible?), buy one now with option on others to get a foot in the door and establish a relationship. What kind of options have any of you experienced investors used for something like this? Total FMV of all properties is in the 700k range. I don't have 20-30% cash for a down payment and also don't have any deep pocketed relatives. I also have zero knowledge of raising private money and any federal regulations that might apply. Looking forward to any inputs.

Thanks in advance

Matt Barker