Owner Financing

[Scott Bastarache]

I have an eight unit building in my area that is for sale. I have been told that the owner is very motivated and will entertain any creative financing. I have a few questions regarding owner financing.

1) Can owner financing be done if the current owner has a mortgage on the property?

2) Is there a way to mix owner financing with conventional financing and still keep out of pocket expense down to bare minimum?

The area of owner financing is very new to me. I realize that it is done all the time, I just have not had the oppotunity to close a deal with it yet and am very interested to get this deal done. Any info that can be shared is appreciated.

Thanks,

Scott