Does this deal make sense?

[Gary Johnson]

Found a foreclosure 1,800 SF Modular on 5 acres). May be able to purchase for 40K. I can get a private loan for 36K. I have a buyer that is willing to pay 60K for the house if I will finance for 30 yrs with 10% down. Does anybody finance deals for this length of time? Or is that type of financing best left to the banks? Tell me where the flaws are. MJ