Need help structuring seller finance deal and rehab funds

[Shaka Farrier]

Hey BP, I hope all is well. I'm wanted to get some opinions about a seller financing deal in about to land here in Norfolk, VA. I have been thinking up ways to not use my cash or maybe just a portion of it on this deal.

Here are the details

After Repair Value: $80,000

Repairs: $10,000 - $15,000

Purchase Price: $20,000

Down Payment: $10,000

Promissory Note: $416.67 for 24 months (the other 10k for the purchase)

Payments are deferred 6 months. I have time to rehab it before I start paying her

Interest: 0%

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I have:

$10,000 of my own cash

$10,000 Business Credit Card (10% interest)

$15,000 Business Line of Credit (16% interest)

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I'd like to keep it as a rental. I could get around $1000/month. Thanks in advance everyone