seller financing with no cash flow?

[Mike Barry]

I was hoping to get the advice and pick the brains of some pros. Im a new investor with a couple properties already. I have not yet gone the route of creative financing, but have been exploring it. I have since found a property being offered as lease to own. My thought was to buy this and rent it as a buy and hold. The seller is looking for a $10,000 down payment and $1600 a month. The comps for this area will not support higher then $1600 a month so i would be at best breaking even not taking into account repairs etc...The main advantages i can see with seller financing such as this is not adding a loan thru a bank to come off my total of 4. Also the seller is looking for a sale price of $200,000 if im doing my math correctly I should have the home paid off within 10 years at $1600 a month vs a 30 year loan with a bank.

Im not sure if the risk outweighs the reward on this deal any opinions would be greatly appreciated!

Thank You!