Land Contract

[Joe Kulbacki]

I'm looking into purchasing a duplex from a woman who's husband passed away and doesn't want the property anymore. It is totally paid off, so there she has no mortgage. I've never purchased any investment property without conventional financing, so I'm wondering what this deal should look like. How much interest do I pay...How many years do I amortize it for...How many years before I pay it off with a balloon payment and any other important information I may be missing. Thanks in advance.