I am no fan of banks.Some ideas when negotiating for seller financing:Offer to give them more for a principal mortgage (no interest)Build in a discount for early pay offIt should be a subordinated mortgage (meaning you can place that mortgage in a lower position) if you decide to refinance and the bank wants first position.Put in a "substation of Collateral" clause - meaning you can "walk" the mortgage to another property if you sell the property and won't have to pay it off - it will just be on another property with suitable collateral.As for 11 payments a year instead of 12 (Xmas bonus)Good luck with your deal ---- Charles

Here is how most hard money works:Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee Minimum Loan Amount: $75,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

Here is how most hard money works:Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee Minimum Loan Amount: $75,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

You could also use hard money to acquire, most do as follows:Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee Minimum Loan Amount: $75,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

This is how most hard money works:Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee Minimum Loan Amount: $75,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

might help if you fill in the blanks.1. what is the collateral  IE improved property or bare land ? 

It's easy to take the car and re-sell it as used and get most of the $$$ Collateral back.

We also have been trying to find a lender who will refinance the 3 notes into our LLC and at the same time give us a substantial Business Line of Credit collateralized by our properties for something in the neighborhood of $500k. 

Portfolio loans are generally easier to get than what people consider traditional loans with respect to investment properties.Portfolio lenders typically require personal guarantees, which gives them added collateral to offset risk.

I would love to sell it for as close as I can to break even (not looking likely)  or do a 100k secured collateral loan with the property .