If I create a debt fund that offers 9% interest on first lien notes with a 5-7 year payout, would that be attractive to high net worth investors?

At the time, his offer was low, and I had potential plans for that space, so I turned him down.

If curious, here are the last two: Jan 2023: Multifamily Real Estate is At Risk of CrashingFeb 2024: Multifamily is at High Risk of Continuing It's Historic CrashI think that the title for my 2025 analysis (likely Jan/Feb publication will be something more like:Multifamily is Finally Going to Hit Rock Bottom in Q2/Q3 2025 - Get Ready to Buy a LOT of itAs usual, I like to publish my draft thoughts here to get input from key players in the space and these forums, especially folks like @Brian Burke, to see if I am missing any high level areas, before I get into the weeds and look at the data more deeply and regionally. 

looking to make an offer

Keeping it friendly and low intensity is more likely to be successful.I recently offered to completely replace my neighbor's fence next to my rental and they said "No".

You should have that as a benchmark in mind, since it offers a good return without any effort.

Rates are also better with these than with an investment loan.There are a couple of investment loan programs available that offer 10% down as well with no PMI, but they have slightly higher rates.

The seller is offering seller financing at 2% interest with a 9-year balloon.

What they will offer you is an appliance package, or closing cost help, or a low fixed rate loan. 

That has nothing to do with us but we still offered to help you.