Would You Do This Deal?

[Kyle Doney]

I have a lead in Boulder CO I've been working that I feel is too tight, but has some creative qualities to it. ARV 550K all the house needs is some paint. I offered 450K cash offer. Seller doesn't like it too much and wants 480K. I said I could do it with owner carry. She is fine with it, but wants 200K down. At that point I don't feel like its worth it. Its a rental with a lease until April bringing in 3k a month. Good tenants, well kept house. She put 50K in it a year or two ago.

How would you work this lead? Or call it a pass?