The owners are being offered cash, and they are at the age when they would rather have the money than the asset@Russell Clark Why don't you ask if they are interested in selling, then work from there?

This means that before a potential buyer is allowed to enter negotiations, and certainly before sensitive financial information is released, the seller and or his agent will want to be convinced that the buyer has the ability and willingness to complete a purchase.  

Then you can use those funds to invest in alternative assets such as real estate, get into private lending, etc.I agree with Patsy that Solo 401k is more superior option, however it is not for everyone.

The second loan would be a 30-year fixed lower interest asset-based non-recourse loan.

In building my portfolio, I want to continually think of ways to gain traction and accelerate towards my financial goals.

It could even ruin the seller financially, because they didn't understand the situation.

You mention the owner has paid $70k on the mortgage but that isn't a number that matters (since who knows what interest rate he's on or if he's made any extra payments), what matters is what the outstanding balance is on the mortgage and can you offer them a purchase price that is A) Fair to the owner, B) Helps them sell with some amount of equity and C) Gives you room that it financially makes sense.The numbers change based on if you want to flip it or rent it, making the question "does it make sense" different based on the direction you choose.In short, I have no idea how much I would offer...

REI is a great place to start your financial life.

The deal makes sense if I want to lease but it doesn't make sense financially to get a HML and flip.1. 

Also be sure to get their trailing 12 months financials and current rent roll.