Can anyone help me to analyze this seller financing deal, please?

[Kwok Wong]

Hello everyone, I am still learning here, and recently found a potential seller financing single family home opportunity here in Kalama Valley on Oahu. Can anyone help me to analyze this seller financing deal, please?

Sales price: $1,160,000

Down payment: $200,000 (using 5 year HELOC, 200K is the limit, 3.6% interest rate)

Balance $960,000 at 5.5% Monthly interest only payment: $4,400

Property taxes: ~$252

Homeowners' insurance:~$168

10 years balance is due

Potential monthly rent: $5,300

I currently have a $500K mortgage, am planning pay off the single family home by paying little by little during the 10 years, and using cash out refi or apply a new HELOC at the end of the contract.

Do I need more information to analyze the deal? I am thinking to negotiate a lower sales price, and/or monthly interest so the monthly payment can be decreased. What should I pay attention on when dealing with seller financing? More importantly, how can I make it a better deal? Greatly appreciate for any input.

Thank you,

Kwok