If the seller own it outright, you could also consider proposing partial seller financing.

It might not be appealing now to them, but if it does not sell in x amount of time and you have a solid proposal they may counter offer way closer to what you offer.

It's OK if he keeps the title until you resale and he must prove they make all pertinent payments or you propose you will. 

ATTENTION ALL INDIANAPOLIS LANDLORDS AND INVESTORSIndianapolis InvestorsThe Indiana State REIA legal councilors have been on the phone today with lobbyists for the Apartment Owners Association due to serious concern over “Proposal #41” being heard TONIGHT at the Indianapolis City County Council.The essence of the ordinance is a series of fines begining with $500, then $2500, then $7500 PER TENANT and PER OCCURANCE against landlord’s who violate this tenant’s rights ordinance.

What you are proposing is called mortgage fraud, so the answer is no.As to calculating your mortgage, use any mortgage calculator (app on phone or google one).

Below I propose a number of scenarios, I"m interested in opinions from others.

He is making changes I am proposing but at times I feel it would be great if he could also provide more of his suggestions as well rather than just taking orders.

I have attached the 3 different proposals. the first one is 20% down payment, second is 5% and the last page is 3% down payment.

PROPOSED PLANMy thought is, If I purchase the property using a commercial loan I will several benefits.

I'd say your best bet would be to get on a phone with a lender and talk through the proposed situation so they can give you an idea of what you are looking at and how much it's going to cost.