Best Deal Structure for Family Portfolio Purchase???

[Eric Caudill]

Hi BP Community,

Backstory

For years I've heard my father tell me that if he could just unload his real estate properties he could finally "retire" or at least be a lot closer to retiring. The issue is he's got homes spread over several states. 5 in total. Essentially as he moved he bought a place and kept it/rented it after he moved to a new area. He has a very demanding career and i know hasn't put much of any time or energy into renovations/general land lording. In some instances they have equity based on market appreciation and in some cases they are underwater on the loan to value.

After listening to a few podcasts I've heard of people buying entire portfolios from others who had planned on selling one at a time but were able to buy their entire portfolio at once. I want to approach my father to help him get out from under all his mortgages at once when he is ready to act.
 

A win win for both parties. 

Question

 How would you propose to structure the transaction assuming any structure is on the table? Assume that the seller does not care they just want "out". Assume a long term wealth creation strategy is my goal as the buyer.