Seller financing What do you think about this deal ?

[Deville Nunes]

Hello.

I wanted to see every ones opinion on this? Who would do this and who would not? This is what the numbers look like for this C class neighborhood in CA. The reason I like it is because it would be paid off after 13 years. The reason I don't like it is that it is negative $32 a month if I don't property manage it. 

This is for 13 years

$80,000 purchase price

$10,000 down = $70,000

Rent $800

Payment $572 %4

Insurance $ 40

Water bill $ 40

Vacancy $ 40 or %5 of the rent

Repairs $80 or %10 of the rent

Property Management  $60

= -$32

[Account Closed]

Originally posted by @Michael Quarles:

the ones I'm carrying currently are in Fayetteville NC, Philly and Houston. 

24 months of rent to pay off purchase.  So, assuming $1200/mo rents, 24 months is $29K.  Philly and Houston props for $$29K?  Yum.  Or are we talking $700 rents for a purchase price of $17K? Even yummier. And for sure these props don't need $35K in repairs, right?