I've identified what appears to be the perfect off market multi-family, toured the units and it has every indicator of the ideal BRRRR. In short its a 1.4% property at asking, structurally sound and better yet, cosmetically stuck in the 1970s.
The wrench in the mix is the seller appears to shy away from the typical purchase practices. He never said it directly but hinted as, "yeah I had an offer but didn't want to hold up someones money, banks take forever and I'm in no hurry, so I told him to come back when he has a loan." Several other thing he said hinted towards this. He's an older man with several properties, experienced but ready to let go.
I want to structure the offer with the pre-approval and below asking in a way that does not shy him away from the traditional route. Any suggestions?