All parties have settled on the price.

The biggest recommendation I would make is to get an inspection done with a third party you choose.

The nice part is, I renovated the whole thing in 2020(new shingle roof, new siding, new heating system, new HW tank, new kitchen, etc.) so I dont foresee any big CapEx expenses in the near future.

Best part is that all units are empty and livable.

Even with this lack of consideration on the sellers part, I feel the property is in a prime location with upside potential, however, with this behavior, it will take longer for us to turn the property. 

I have a duplex, with a separate exterior space that I have been renting out to other third parties who wish to park a vehicle or boat there for a monthly fee.

Work the angles, although generous, make similar to 3rd party. 

@Jack LittleThere are standard templates from Fannie Mae but I would have an attorney draft these documentsThey can be held (the lender) through a deferred retirement account but make sure you are using a third party servicer to collect payments

This can be a win-win for both parties.

If you have a legit 3rd party appraisal that will be needed.3.