Be sure to explore all around the forums as well as many of the FREE tools that Bigger Pockets provides.I am on the lending side of things and am always happy to hop on a call to discuss loan options that are out there, even if not offered by my resources. 

Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont? 

I have been an investor since 2009 and work as a loan originator since 2018 all in Dallas.

To take it a step further we have been taking loans from our 401K’s to help support down payments on rental properties.

@Mark Sullivan if you are a buy and hold investor these loans work great.

As a loan officer, I've seen a few people go through the same scenario of basically breaking even. 

30-Year Conventional: 7.01%30-Year VA Loan: 6.40% Drive Safely, Las Vegas!

the rest of the loan payment right now is coming back to you eventually. 

Or if its not that much you could get some other type of loan and use a 2nd lien on the property as collateral.

I moved to miami and it's tough to do here columbus land is cheap. lower than lenders even require our buyers have to come up with additional equity just to close the loan. not sure austin's economics but happy to look at a case study with you to see if it's feasible