I'm afraid to offer a low price to the owner since they are not motivated and are happy with the incoming cash flow.Any ideas or tips on how to make a offer like this would be greatly appreciated. 

I want to earn long term passive income from the property and secure long term income for my wife and children. 

Saving income from my job plus the cash flow from my investments seems like a longer plan than the one I presented but I'm open to all options.

Look into getting an FHA loan, talk to a lender and see what you might be missing to qualify.. might need a little more income or more credit, a good lender will point you in the right direction if you couldn't immediately qualify that is. 

Can we ditch income tax coming from that construction ?

The area is lower income compared to surrounding areas.

So in other words, over the next 22 months or so I will have about $26,000 in extra income.

Most of the investments we are buying are buy & hold to generate rental income.

My brother wanted to sell it, but I decided to start an S corporation and rent out both sides so we could supplement our incomes.

It is basically getting a roof over your own head by buying a property and you either having more units in that property to rent out for income or using your spare bedrooms as rentals.