Structuring a lease option for Apt. Bldg
So i have been working of this deal for a little while. I have talked to the seller a few times. He has a 12 unit apt. bldg. that rents for 425 a month. Each apt. is 1 bed 1 bath, and is almost always 100% occupancy. He also has a 16 unit which is essentially a 12 unit and a 4 unit on the same property. The 12 units are 1 bed 1 bath as well, and the other 4 are 2 beds 1 bath. He wants to try and sell both buildings to the same person. So when talking to him i decided to see if he would sell on a lease option. He said he would consider and that i could meet with him and his friends that know about lease options this Friday. So i was just kinda wondering if anyone could help me figure out a way how i could structure this deal using a lease option with no money down out of my pocket. He wants $425,000 for the 12 unit. Not too sure what he wants for the other 16 units, or what he wants monthly. He was supposed to come up with a figure for me and never did. I could really use some help from someone cause i don't know a whole lot about lease optioning for apt bldgs. Thanks guys!