Offer to partner or ask for owner financing?

[Nichole Ovens]

Hello all, I posted a couple days ago a about whether a 4-plex that brings in $2080/month was a good deal for $150k. I got a lot of good advice. I also mentioned that the owner ideally would like to sell me 3 properties in a package and would offer a discount if I bought all three. He wants to do this as a private party deal although he is a realtor. 

Here is the summary of the properties:

4plex - $150k

2 - 2bdrooms rent for $590/month ea 

2 - 1bdrooms rent for $450/month ea

Total: $2080/month

He says he has good tenants and he resents fixed it up. It is on a nice street backing up to a park. Probably a B or B- property in nice condition although I haven't walked through.  It looks like he did a nice rehab job and maintains well.

4bdroom/2bath next door - $114k

Rents For $950/month with a tenant. House is nice and could make more as an airbnb which is starting to come into our area more. Solid B house. Also backs to the same park with a very nice house next door.

2bdroom/1bath - $75k 

This is on a different street. It is also fixed up nicely, tenanted but probably a B- or C + street.

I am interested in posing a slightly different scenario.  I do not currently have the cash for the down payment for any of them. I am interested in the 4 plex but maybe all.

I would like to ask opinions about asking the owner to finance the down payment (what are objections, pros/cons, benefits to him and me) . How might I pose  this to his benefit and mine. 

See if he would like me to partner on the property or all three at a 60/40 split with the plan that I will buy him out fully after 2 years.

Lease  purchase.  I don't know if I would like to go this route as I would like to be able to claim all the deductions I can get on taxes. Can I still do this?

I am not interested in increasing my income...I need deductions as much as possible and want to build equity so that in 4 years I have something that will provide income so that I can afford college for my daughter.

Thanks for any suggestions or ideas. I love this Bigger Pockets community.