Short Term Land Contract &....daycare?

[Dan Buhr]

Just finished rehabbing my 1st flip property and have it FSBO. Have a qualified buyer (from cursory investigation) who would like to do a Land Contract. However, they would be able to get a bank mortgage in 3-6 months and could buy the property outright. I had them chat with a MLO I know and they told me the same thing. I'm interested, but have some hesitations as I'm not familiar with LC's. I have a good RE Lawyer who does LC's so that's a plus.

The couple, though, has a daycare that would be in the house and that concerns me. Obviously I could mitigate possible house damage with a down-payment or something put in escrow - but is there any concern if a daycare child gets hurt that the parents could come after me as the deed holder.

Beyond all that, I'd love any input on structuring a short term deal like this. Still a LC? Or other better options? Or hold out for a traditional offer from a buyer?