Need advice on multifamily opportunity

[Ephrem Bekere]

Hello BP community,

I have an opportunity to purchase a 3 unit investment property and I was hoping to get some advice from you guys. Seller is asking 235k for it and its in a nice area with a good school district. 3br+2b rents for $875, 1br+1b rents for $595 for a long tenant who's has been there for a long time, and a 1br+1br for $650. With my financial situation, i will not be able to get a conventional loan so I was planning to use a commercial lender. The seller was wiling to carry 30-35k for the down payment but did not get into details for the terms. Expenses for the year are $6610 according the seller. That does not include repairs, cap ex or management. Would it make sense to have the seller carry majority of the down payment? It does not look good in terms of cash flow. Am i missing something? Any advice would be appreciated.