Favorite Seller Financing Terms?

[Tyler Lingle]

Just put my first offer in using Seller Financing. I have a feeling it's going to get more use as this bear market approaches...

Here's the terms we put in: 
We ran it at $10,000 down. Monthly payment of $1000 with $500 going to principle and $500 to interest. Balloon payment in 5 years to cover the rest. The purchase price of the duplex is $200,000 and the rents are $1600 gross. 

I'd be interested to hear any feedback and what terms are your preference?