Also tell them you are interested in acquiring multi family properties - you never know who may have that big connection who can really boost your business.Regards,Jim 

I got too excited to acquire a new rental.

I'm hoping to acquire a few more rental properties quickly, and began reaching out to a few owners of larger buildings who may be willing to help with seller financing.I was hoping to find a seller that is willing to carry a second note - I finance 75% with a traditional commercial mortgage, and the seller lends the final 25% as a second note.I know that that pool of sellers that may want to do this is small, but hey - I figure it never hurts to ask.What kind of terms are typical when asking a seller for a second note?  

Of course, myself I focus on a 5 year term to hold, so that I can continue to step up with appreciation and cash out more capital to acquire properties that do better then $100/door.  4 Plexes at $100/door make a significant impact, imagine getting 30 of those under your belt?  

He needs roughly about $30k to acquire the property.

It does have to do with the type of financing that was used to acquire the property.

I think this is a great flip, but how do I acquire it if on zillow it says it's off the market and the bank now owns it?

@Maxwell Lee  Well, it took me awhile, and I actually acquired another property in between, but I have decided to sell this house and look to move up to a small MF or similar.  

What i want to figure out is the best way to approach acquiring the property now that i have info others don't and before she is convinced to sell.Will sending yellow letters be a good starting point?

if I see a home for sale for example on craigslist for $42,000 how do I acquire the true appraisal value of the home so I can compare it to the asking price?