15/30 balloon mortage?

[Anthony Franco]

I'm looking into buying my first rental property, it will be a single family home. I talked with a local bank and their only option is a 15/30 balloon mortgage. It’s a 30 year amortization, but has a balloon payment at the end of 15 years.

Seeing as I was planning to keep the property for only around 10 years, I don't see any drawback with this type of loan. But it's not the usual loan I've always read heard (30-year fixed).

So I was curious to know other's opinions. Anything I should watch out for regarding this type of loan?