financing question

[Deville Nunes]

I have this property under contract for $20,000 and I was thinking about keeping it. I could finance with a back for 25% I think. Or the seller is willing to take $10,000 now and $10,000 in 7 months. This gives me time to refinance it and maybe take all the money out and not be in the deal for anything. Lets pretend it does not need more then $5000 to fix it up. It is in a C to D area.

What do you think? What would you do ?

Brick Duplex 1,428 sq. ft. Year Built: 1960
(Unit 1)2 Bed/ 1 Bath Rent: $300 pro forma rent $375 renter has lived there 15 years
(Unit 2) 2 Bed/ 1 Bath Actual Rent: $300 pro forma rent $375 renter has lived there 2 years

thanks for the info