In the meantime I would put the money in a low risk account gaining 4-5% which for $250k would be around $1k/month.Hey Chris - what is driving the sentiment not to buy anything right now?

I follow the letter of the law( no matter how much I may not like it) that's part of my risk management and my reputation.

Easier to get other peoples money.  

Key Factors for a Good Seller-Financed DealCash Flow: Rental income should exceed monthly payments (PITI) by at least 1.25–1.5x.Purchase Price: Compare to ARV and market value for fair pricing and equity potential.Interest Rate: Aim for competitive rates; higher rates must still allow positive cash flow.Amortization/Balloon Terms: Favor longer amortization and align balloon payments with your exit strategy.Down Payment: Lower upfront costs reduce risk but should meet the seller's expectations.Flexibility: Seek no prepayment penalties and fair late-payment clauses.Property Condition: Ensure the property’s condition matches terms through inspections.Seller Motivation: Assess the seller’s willingness to negotiate favorable terms.Exit Strategy: Have a clear plan for refinancing or payoff at term end.Portfolio Fit: Ensure the deal aligns with your financial goals and risk tolerance.Vetting multiple deals and consulting professionals is crucial to making sound decisions.

Why would someone buy now and make little money for the chance that the rates will adjust later?

You won't find a deal where you live for free, but if you can live in a great neighborhood at a reduced cost of living that is a nearly risk free way to get started in real estate. 

I think this depends on your risk tolerance and your interest rate.  

There is a lot of money on the line in every deal in RE.

I am here to create a business strategy that protects personal and business investments and mitigates risk,  procure a coach or mentor, and set up tax strategies to create long-term wealth for myself and my family. 

Welcome to BP.My biggest piece of advice is to understand risk premiums in real estate.