New Contract for Deed Deal (Numbers)

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Hey all, looking at a new contract for deed deal and was hoping to get a second set of eyes on the numbers. This would be a buy and hold.

Asking price = $125,900

Down Payment = $2,900

Annual Taxes = $1,500

Annual Insurance = $1,000

Monthly Payment $1,000 (All goes towards principal)

Rent = $1,200

Tenant pays all utilities

After 3 years I would refi into a traditional mortgage

House is in good shape and and has no major repairs in the foreseeable future. Roof was replaced 5 years ago.

This would be my first deal without using a bank. What kind of closing costs should I expect to incur?

Thank you!