Rehab'd 3/2 bath in Chattanooga

[Thomas DeMoss]

Need some ideas about this one please. Rehab friend of mine called today and said he is wanting to unload one of his houses for what he has in it. The house is 80% new, includes new roof, ac, new kitchen and baths, most plumbing and some electric. He wants 90K. House could rent between 900-975. I asked if he would owner finance for 12-18 months with at least 10% down. New to this type of financing arrangement and we were just starting informal negotiations. I was just thinking if I could get at least $300 in cash flow I would be good. Any ideas about deal structure. Would like to avoid going to bank to save closing cost. Here is link to house.

http://www.realtor.com/realestateandhomes-detail/3675-Northrop-St_Chattanooga_TN_37351_M82929-61996?row=1