Good deal or not land contract

[Randy Wiley]

So my wife and I found a 4 bedroom 1 bath house with a land contract. We look at it Thur, right now with just looking at pictures and the description of the property it looks like we could do repairs for 15,000. Comps in the area are between 80,000 to 125,000. My question is what would be a good land contract payment to come up with for the house in your opinion. The money that will be paid on the land contract could be used for let's say 7% or some kind of interest on top of the 50,000 to intice the owner. If so would that sorta be like a private money lender, or a owner financing with a interest attached to the deal?