It had multiple offers the day it was listed (like everywhere) but now the financing of the buyer is falling through. 

One huge benefit of a private/HML loan is the strength of making an offer when competing with cash buyers.

He offered to sell it to me with owner financing for $400,000 and only required 10% down, so I jumped on it.

A 20+ unit building offers instant scale—more units under one roof means better cash flow per dollar invested and easier management (one property, one system).

There are builders that are offering really low rates.

Being that rates are up it's another way to offer exatly what you mentioned; the chance to own for a couple hundred bucks more than renting.Thoughts?

Quote from @Ben Fernandez: Make the offer that suits your assessments.

•Offer free rental evaluations or investment property consultations to attract investor clients who may need your services long-term.Final ThoughtsIf you structure your marketing the right way, combining your PM and real estate services under one brand can be a strength, not a weakness.

They want to sell for as much as possible.Use the broker's pro forma as a thumb to the wind guide for your interest along with the rest of the offering memo (right location, asset class, etc.). 

They had listed it for $40k more in 8/24 and dropped consistently until 12/24, when I made my offer.