To borrow the downpayment and not disclose it to the lender would be fraud ... which could be a cause behind "all hell will break loose".As for not being able to lock the interest rate in for 30-yrs, that is not necessarily a bad thing (when I bought my first property, interest rates were around 16%).  

I can re-hab myself for the most part (I own a roofing company & know enough about construction), & I have flipped a house a few yrs. back.

To pay off the loan in 15 yrs or to cash flow?

Other companies require that houses built more than 25 yrs. ago have updates to the electrical, plumbing, roof, and heating. 

What are you going to do with the property after she's finished in 2-yrs?

based on the 27.5 yrs rule... as well as anything else someone wishes to chime i on that i can use to reduce to zero Thanks

@John Woodington I think the decision boils down to whether you can afford to weather the storm and cover for the unforseen expenses for the next 15 yrs.     

The current rent rates for the area for a similar property is 1800, however the main reason why I am purchasing is there is a corporation lease on the home for 2700 for an additional 4 yrs (lease includes maintenance and property management already paid)Should I proceed with the deal and pay more?

I read about this on a BP discussion dated 4 yrs ago (which had a lot of back and forth), but I am seeing investors currently discussing owner finance.

I'm a native Texan & have been in commercial & residential real estate for 30+ yrs.