Looking at 1st deal

[Blake Preece]

I'm looking at buying my 1sr rental property. I thunk I can get it in the low 50's. There is an older gentleman that is a multiple millionare here in town that I'm going to try to get my loan through. I'm hoping to get around 62,000 from him. That would give me a little nest egg if something goes wrong or if the place doesn't rent for a bit.
How do I legally go about asking for the extra money or is it ok to get more than what I'll be paying for the house?