You can basically give them a detailed rehab budget and comparable sales to supplement/justify your offer. 

A seller carried note, in this case, is an opportunity for her to supplement her retirement income.I'm going to sandbox here, obviously it's unlikely you will do exactly this, but it's a starting place:If you want to play the long game, and are yourself young enough to do so, you could pair the seller carried note with peppercorn rent specified in a lease of $1/mo that lasts until she dies.

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It may not be a bad idea to consult with a local lender and see if they could provide a supplemental loan or a Line of Credit to help finance the costs. 

Investing time in building connections here can be very valuable and will certainly supplement what you get out of meeting with local investors.

Unlike a lot of folks I actually love my 9-to-5 engineering job and in no rush to get out of it, just supplement active income with passive.

If I died in a boat accident my income would be supplemented by all the rental properties we owned.Then I made just a simple spreadsheet in excel with cash flow amounts. 250, 300, 400 etc.

He is a high school teacher, so this works especially well for him to supplement his income during his time off.

Taking those earnings to supplement my leveraged rentals, maintaining my principal in this area. 

This is as per the  Truth in Renting paperwork:SENIOR CITIZENS GRACE PERIOD Any senior citizen receiving a Social Security Old Age Pension, a Railroad Retirement Pension, or any other governmental pension in lieu of Social Security Old Age Pension, and any recipients of Social Security Disability Benets, Supplemental Security Income or benets under Work First New Jersey, must be given a period of ve (5) business days grace period for payment when the rent is due on the rst of the month.