Seller financing advice

[Brandon Clark]

Hey BP, I have a quick question on super bowl Sunday. I have an off market property in downtown New Orleans ( bywater area ). I'm currently negotiating with the seller about them financing the deal. The sale price is 70k, the house is in good shape but I would need to finish the 2nd bed and bath. This area is slowly but surely changing in my opinion. Comps my agent send me we're at 100k, 145k , and 239k. I could potentially rent it for at least 1100/mo or sale it for at least 100k after I finish the room and bath. My 1st question would be, how much should I offer as the down payment? What's a normal amount to pay monthly, interest rate and if they request a balloon payment how long should I have at a minimum. I'm sure I left some info out that's needed, so please let me know. Thanks for any info or advice. -Brandon