Or is he requiring a down payment?  

You're not required to accept payment via this app. 

This is a low-risk, high-return opportunity with monthly interest payments and full repayment at the end of 6 months.Loan Details:✔ Loan Amount: $50,000✔ Interest Rate: 10% annually✔ Loan Term: 6 months (can be paid off sooner)✔ Security: Backed by my home’s equity ($425,410 net equity after mortgage)✔ Monthly Interest Payments: $416.67 per month✔ Total Interest Paid (6 Months): $2,500✔ Total Loan Repayment (Principal + Interest): $52,500✔ Exit Plan: Loan will be repaid in full once my home is sold (listing begins immediately after funding).Why This is a Secure, Low-Risk Investment:✅ Prime Location in Plantation, FL – The property is located 7 blocks from Plantation Walk, a rapidly developing area with major real estate and commercial projects driving property appreciation.

I’m looking for insights on how to put together a deal with the following details:Asking Price: $260KMarket Value: ~ $265KProperty Details: 3 bed / 2 bath / 1,400 sq. ft.Days on Market: ~100Loan Type: VA Loan (Attempting a VA Loan Assumption)Mortgage Balance: $200KThe ChallengeThe seller is behind on mortgage payments, and while I don’t have an exact amount, the agent mentioned it’s over $20K.

I highly recommend you study this, practice it, and apply it.https://www.biggerpockets.com/blog/rental-property-cash-flow...Property Details:Type: Single-family homePurchase Price: $289,900Down Payment: 20% ($57,980)Loan Amount: $231,920Interest Rate: 6.85%Loan Term: 30 yearsMonthly Mortgage Payment:Using a mortgage calculator, your principal and interest will cost $1,515 per monthRental Income:Average Rent for Single-Family Home: $2,171 per monthOperating Expenses:Property Taxes: $300 per monthInsurance: $100 per monthMaintenance and Repairs: Budgeting 5% of rental income ($109 per month)Vacancy Rate: Assuming 5% vacancy ($109 per month)Property Management Fees: If outsourced, typically 10% of rental income ($217 per month)Total Monthly Expenses:Operating Expenses: $835Mortgage Payment: $1,515Total Expenses: $2,350Net Monthly Cash Flow:Rental Income: $2,171Total Expenses: $2,350Net Cash Flow: -$179 per monthConclusion:In this scenario, the rental income of $2,171 per month does not fully cover the total monthly expenses of $2,350, resulting in a negative cash flow of $179.

The current PM had delayed two months of rent payments with all kinds of excuses (that is when he did reply, which was rare).

I'd have suggested a down payment assistance program for your first purchase.

Any cancellation within 60 days I get the full payment.

I am looking for 6% yield minimum on my cash with 40k-60k down payment.

Do your research and run some numbers, but if you can buy a 4br house, rent out the other three rooms and be left with a very small mortgage payment, you can start saving for the next one and then rinse and repeat every few years.