Creative Financing to buy a Neighbor's house

[Tobin Bereznak]

Hi all I'm new to investing, and am considering buying my neighbor's home for a real estate investment, and was hoping someone here would be interested in helping maximize the structuring of this deal.

Here's the situation:

- Neighbor has $120k balance on an ARM loan on his 4/2 tri-level.

- He and his wife (no more kids now) want to move to a ranch because the stairs are getting difficult to traverse

- He is asking $350,000

- To move, he needs down payment ($10k ish) and to pay off his existing loan balance, so total of $130k.  He is willing to owner finance.

Any creative ideas on how to structure a deal so that it's most profitable?  I realize that's a broad question, but it's a start.  Thanks for any input you can give.