She had a horse boarding/training business that apparently failed.

We were planning $600/mo mortgage payment, $100/mo insurance & $100/mo taxes - balloon payment in 5 yrs.We are providing $5k to pay back taxes ($4k), back hoa ($125), pump septic & grease trap clean out ($225), survey ($600)  & our children are paying closing costs ($1500).Deal stalled as owner backed out on seller finance.Suggestions?

It is putting the cart WAY before the horse in my opinion. 

It's really stupid but but most banks consider the following to be rural: over 5 acres, if it has an unimproved road to get to the house, if it has a barn or horse stables, if population of town is under 20,000 (population density varies by lender).

I guess that works if you want a listing or wholesalers type things.. but if you actually want to close on a deal I cant see why folks get the cart in front of the horse.. 

Not to beat a dead horse here, but find a lender that you like working with, trust, and one that does a lot of transactions similar to yours, and is willing to say the hard things (i.e.

@Abdi Muya - based on your long post, it seems that you're putting the cart before the horse. 

Purchased new a work horse set that’s pretty basic with no electronic components runs me about $1100.

I more or less begged him to work with me to avoid having to file - but all he did was stall and bounce payments...

It wasn't a big cost, but it stalled some work Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?