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The high HOA fee is already a factor, so ensure you’re comfortable with the overall carrying costs.Focus on the Land Value: Since the lot has development potential, you’re looking at this as a long-term investment.

Why not 30 year term with a conventional loan?  

I do a good bit of long distance real estate investing and I am considering going into as new area. 

I have properties in the Buffalo area (a mix of long term and short term) but was looking into Syracuse also, so would be interested to hear the responses.  

.: Quote from @Matthew Irish-Jones: Buffalo is a good market to invest long term if you get a good property, on a good street, in good condition.  

Have you refinanced this into a long-term mortgage?

I’ve been in the industry for several years, and my work has given me a solid understanding of property systems, maintenance, and what makes a home a great investment.I’m now looking to expand my own real estate journey by learning how to acquire and manage short-term and long-term rental properties.

I’d love your input on whether this deal could appeal to investors and how best to structure it.Property Details:Worth: ~$300,000HOA: $273/month, Taxes/Insurance: ~$170/monthCurrent Rent: $1,880/month (long-term); next tenant advertised at $1,950/month.Mid-term rental potential: ~$2,400/month (I haven’t tried this, but it’s my estimate).My Financing Idea:Large down payment: ~$125,000 (This is my priority to reinvest elsewhere).Seller-financed balance: ~$175,000 at 4.25% for 30 years.Buyers take over taxes, insurance, and HOA.Questions:1.

Make sure that they review the document with you when they are at their "peak" in terms of happiness.