Duplex Owner Financing

[Darlene Clevenger]

I have found a nice duplex which generates $1400/mo rent, tenants pay all utilities and the only expenses would be grounds maintenace, taxes and insurance. The property is practically new in an excellent location with no vacancy rate to speak of. The owner is willing to finance but didn't give me any terms. I don't want to offend with a crazy offer but would like to give a realistic term yet not ever done this type of deal. Is 10 yrs too much to ask for say at 6% interest? Is 5 years more the norm at 10%? Someone with more experience here throw me a bone please.