Terms as noted are whatever buyer and seller agree to.. either way if the seller takes no interest on the deal they will have imputed interest and if they check with a CPA that will kill the deal right then. plan on paying interest.I could be wrong on all of this but I am pretty sure this is how it works in the states I have carried contract for deeds  CA OR WA.

You get that back if you sell, but if you keep it as a rental it takes 153 months or 5 years to break even on your down payment alone.https://www.redfin.com/IN/Indianapolis/1515-E-Kessler-Blvd-Dr-46220/home/66981054ARV / Sell Price$235,000We Calculate All CostsPurchase Price$152,750 65%Closing Costs$2,000Rehab$30,0006 Months Carrying Costs$9,114Real Estate Selling Costs$14,1006%Other$0Other$0Total Rehab Costs$207,964Now We Calculate ProfitARV / Sell Price$235,000Total Rehab Costs$207,964Gross Profit$27,036IRS Tax$4,05515%Net Profit$22,981Per month profit$3,8306Loan Down Payment$30,55020%Loan Amount$122,200 80%Loan Cost per rmonthPrincipal & Interest$8137%Prop Taxes$321Insurance$168HOA Fees$0Monthly Payment Costs$1,302Monthly Payment 1$1,302Monthly Payment 2$1,302Monthly Payment 3$1,302Monthly Payment 4$1,302Monthly Payment 5$1,302Monthly Payment 6$1,302Utilities for 6 months$1,302Total for 6 Months$9,114

But the way I look at this example is I go to the supermarket I pay on time, bag my own groceries, carry my food out to the car and still the super market raises prices on food.

Land cannot be depreciated.2) Whatever depreciation you cannot use in a given year gets carried forward and can offset passive income.

and a property that has debt which carries some risk.

You want the big house and the car even while carrying large amounts of consumer debt.

I don't know for sure, but I would guess that a person cannot carry 2 FHA loans at the same time.

While this is certainly possible, the no money down techniques usually rely on the seller carrying back either all the price in a note, or taking a subordinated note for the difference between a first mortgage and the sale price.

No income this year, but did have expenses, so I want to capture the loss and carry it to 2021. 

That being said, if you can get the seller to carry 10-15% on a 2nd, couple that with 75% on a 1st, you're at 85-90% leverage.