Justifying Seller Financing with higher purchase price

[Kyle Davis]

Hello All.  I'm new here at Bigger Pockets.  Love all the content and blogs.  I got a question for experienced real estate investors.  I'm negotiating  a multi-house deal with a property owner that is retiring and wants to cash out via selling all his rental properties.  We are negotiating a purchase price on 9 of his properties in the town I work in.  The issue is that he wants full market value for all of his properties, but he will do seller financing via contract for deed and I need to basically only put in $5000 as a "good faith" down payment for all the properties.  After doing the math, without raising rents it will only cash flow all together at around $400 a month, which to me isn't very high considering the $450,000 purchase price.  I can probably talk him down to around $400,000 which will free up another $300 a month and raise rents to get it to cash flow at $900 a month.  My main concern, though is if it's still a good deal to purchase a small portfolio of homes at near market value just because the seller will finance it.  (For the record, I've been acquiring all my current properties at 75-80% TOPS of their After Repair Value).  Thoughts?  Thanks!