4-plex Deal Analysis - Milwaukee

[Dave Carpenter]

Is it weird that I have the chorus to "Summer of 69" stuck in my head ever since listening to the most recent podcast....

Anyways, back to the question at hand: I have a 4 plex that I went to look at yesterday and am looking for some universal wisdom. Here is the information.

1. 1. B/B+ neighborhood (would be comfortable letting my wife be down there after dark), also across the street from an elementary school. In Washington Heights Neighborhood about 3 blocks away from Wauwatosa.
2. 2. Asking price $237,000 (I wouldn't pay that much)
3. 3. 4 1 bedroom units, each about 1,000sqft
4. 4. 2 units are rented for $675 each, the third has a "pay what she can" informal agreement, fourth unit is occupied by the current owner who is looking to retire and move near family. 
5. 5. Owner is very interested in selling, but would like to stay for a couple months after closing to wrap some things up in Milwaukee
6. 6. I'm expecting PITI and other categories from the bigger pockets calculator to come to monthly expenses of $2,000 per month for a $190k purchase price, up to $2,500 per month for a $237k purchase prices
7. 7. Rents conservatively should be around $675 per unit per month
8. 8. Each of the units needs some work, though mostly cosmetic (paint, slight ceiling repair, floors, etc.)
9. 9. I would estimate $5000 for repairs right off the bat to get the third and fourth unit in rent ready condition. I would come back and fix up the other 2 units in the months and years to come.

My situation is as follows:

I currently have 3 other rental properties for a total of 6 units fully rented out. These were purchased using a commercial loan with 20% down. I am a bit snug on funding so open to other ideas on how to creatively finance this, but likely would try for the same conventional loan using the same bank as the other properties. 

Three questions:

1. What should I pay for it?

2. Any other ideas on simple ways to finance this in case the bank won't approve based on cash on hand, etc? 

3. Any advice on getting the seller 70+ yr old man, who is incentivised  to move and doesn't like having the property, to sell it to me?

Thanks in advance!!!!