@Kay S.Assuming you are getting title insurance (which I recommend) the closing costs will be similar to a traditional closing.

They provide flexibility and efficiency, especially for experienced investors.How have you found the terms and structure compared to traditional options?

The mortgage company gets paid off first, then in a traditional sale, the rest minus agent fees and utilities and closing costs goes to the seller.

Unlike traditional banks, which focus heavily on personal credit and income, portfolio lenders prioritize the cash flow of your property.

The "slow flip" I am referring to was purchase the property in the traditional financing way and then live there while rehabbing and improving (adding bedrooms, getting the yards back in shape, updating finishes, building or adding shop space, etc.).

I already have one traditional LTR with a traditionally-qualified tenant.

     * House is a 2699 sq/ft Single Family Residence| 3 beds, 3 bathroom | Built in 1956 | NO HOA     * There is a chance I could pay only interests so I can start saving some cash for the incoming maintenance and annual payment equivalent to the 12 monthly payments (~$5,029.77 per year during the balloon period)The advantages I can identify in this deal for me are:* Lower interest compared with traditional loans* Lower down payment compared with the ones compared for traditional loans* House is technically ready to be rented (waiting for the inspection) * Forecast - 3 yr growth (appreciation) is expected to be 8.1 % (Bigger Pockets)The disadvantages I can identify: * I am still vulnerable to foreclosure if sellers don't make mortgage payments to the bank.* Refinancing issues at the end of the Balloon Payment?

A HYSA is a type of savings account that offers higher interest compared to traditional savings accounts!

If the houses are in decent shape and could get traditional financing do not sell seller finance.

Because they aren't traditional tenants in the sense with a 1 year lease and to determine fit for the house, I like to start everyone on 2-4 month leases and see how they perform.