Structuring Commercial Deal

I am in negotitaion with a seller of a 30 unit complex.

I am trying to figure out if there is a way to purchase this property in the following manner:



The current owner holds property in LLC 100% single owner.



I have my own LLC single owner 100%



is there some way to buy into the sellers LLC and then buy him out in order to avoid having to get a new loan?

I am thinking that after we become 50/50 we can refinance (instead of a purchase) and use the proceeds to buy him out of the LLC.



any help and input would be appreciated.

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