A smart move in Maryland

[Che Ross]

I'm currently looking at buying my second property via seller financing:

It's a single family home recently built in 2013, 3 bedroom/2 full baths, no rehab work needed. I'm looking to buy at $60,000 with $5,000 down and 8-10% interest rate for 30 years for around $550-$580/month. I want to rent the property out for $1,600 to $1,700/month. Is this a good deal?

[Account Closed]

From 40,000 feet, it certainly looks like a good deal... 3/2, just a few years old, no-rehab needed...

$55K @ 10% for 30 years is under $500/month (PI)... 

You may "want" to rent for $1,600 - $1,700, but is that FMR? Can you get that? If so, that's better than 2.5% of sales price...

Even in Baltimore City, $60K for a three year old property that'll rent for that??

Are there extenuating circumstances involved, as this sounds a bit too good for a MD property?

Is the seller really the owner? Someone's not asking for $5K EMD direct to them, are they?