If the seller had some basic understanding of financing, they would realize why they should not accept it without substantially raising the selling price.

Nj is very cash demanding unfortunately and my thought process is to try and find an assumption mortgage to lock in at a low intrest rate and finance the equity the seller is looking for to move.

Many small multi sell for higher “cap rates” because they are being owner occupied by emotional people. 

Liens stay with the property, so if you are the (new) owner, you will have to deal with them if you plan to refinance or sell.

Even worse, they still haven't syndicated the listing on crucial platforms like realtor.com and Redfin.The process for reviewing applications is painfully slow.

Also, the property and the additional property will continue to appreciate, and you can continue to repeat the cash-out refinance process.

It takes a lot of time to prepare food, eat, and clean up so being as busy as we always are this simplifies the process quite a bit (not to mention the benefits of simplifying the digestion process for the body).

if it’s a good rental - can you sell and get one that does better?

Arbitrage is a risk free transaction to buy and sell at the same time and pocket the difference.

This deal in particular caught my attention because of its complexity and strong selling potential.