Multi-Family Deal Structure

[James Krell]

I found 3 duplexes owned free by one owner. He is asking 550k total for all three(6 units total). They are renting for a total of 4400 a month all tenants on month to month. Market rent is between 4800-5200 total. My partner and I can put together around 100k cash to make the deal work. Wondering how to structure an owner financing option that would make sense. 

I was thinking about offering the 100k down and then $2000 a month for 5 years interest only and then refinance/sell. Any thoughts?