It's likely not to happen but worth the try....and you can sweeten it by making the terms favorable to him.

I did quick math and was prepared to offer 470k but trying to come up with creative owner financing to sweeten the deal for me (would need owner financing to personally make this happen) any ideas??

I just wanted to know what kind of leverage I could employee to sweeten the pot. 

Is there a reason they need to sweeten the pot. 

Is there some other "sweetener" you could throw in?

Specifically on this deal, would you mind giving a thumbs up/down, while also offering some ways to sweeten the pot/things to look for in another property?

If you don't have them, y0u could wholesale this property with the financing as a sweetener for your investor/buyer.

However, I would very surprised if you find anything better than the 20-25% down.Of course, if the property appreciates in the next year or two, or you force some appreciation with improvements, then you could refinance and try to extract some equity, but the max LTV on a cash-out refinance is usually 5-10% lower than if you were purchasing, so bear that in mind.You can also try to get the seller to take back a 2nd mortgage for another 10%, but might have to sweeten your offer to get them to bite, and they would likely want a shorter term on it, so it could be a significant cash-flow drain.Personally, I don't think you should leverage higher than 80%.

To assess his SITUATION, we could instead add the $1050 hes NOT paying in rent, sweetening the deal.

If not, what would sweeten the deal for you?