First rental property and the seller is offering a Land Contract

[Chad Barson]

Hi everyone,

I'm new to the RE investing game. I try to look up and analyze 5 deals a day. I'll do the numbers as a fix and flip, rental and BRRRR so really I do 15 a day. I'm in the research phase of my learning. But I just came across a great little house that was just remolded and I think would be a great rental. The numbers work. I'll be going to the property tomorrow 2/9/19.

So the question I have is the owner is willing to do a land contract. Since I have no capital I'd have to go to a bank or a private money lender this peaked my interest.

What is considered a good down payment?

What terms should I be thinking of?

Average length of the contract?