Quote from @Chris Seveney: Quote from @Hector Espinosa: Hi,I'm negotiating a seller financing deal which may be my first one and would like to ask for some advise about and what are advantages and disadvantages about seller financing deals.These are the seller financing terms:House Price: $330,000.00 USD​ (Sellers still owe ~$301,000 USD)Down Payment: 5% = $16,500 USD​Loan Amount: $313, 500​ (Monthly payments will be amortized as a 30 years loan​)Interest Rate: 4.531%Balloon Loan Term: 5 YearsMonthly Payment (P&I): $1,594.24​Closing Costs:  ~$3300 ​Zip Code: 74105Observations:       * HVAC requires an update but pending to inspection (replacing with a new one will cost ~$10,000 - $15,000 USD )     * Expected Rent Income: $2,000- $2,300 but this is has been really complicated to get a good estimate because is all over the place in the different sites I have checked

Depends on the state but it ranges from $800-1500+ and, as Chris mentioned, we have the borrower pay for out of the gross proceeds of the loan.

Quote from @Chris Seveney: Quote from @James Wise: The 5 tiny homes are sheds built out of wood pallets bro.

Quote from @Chris Watson: Quote from @Mike H.: Quote from @Marc Bowman: A lot of our software users in the Gatlinburg area have reported that the Fire Marshall is stepping up and enforcing things that perhaps they didn't in the past.

Quote from @Chris Seveney: @Douglas SchwartI would run from this deal.

@Chris Blackburn, while I can't speak to this specifically, there are a few red flags I see in your post.1: A Realtor has to be a member of the national association of realtors, an industry trade group primarily focused on your typical home buyer.  

My name is Chris, looking to start getting involved in making some passive income.

Quote from @Chris Seveney: @Kwok WongGood luck with this strategy as you will tick off every agent and they will not want to work with you or have you pay them upfront.What makes you believe someone will accept 50% off list price?

Quote from @Jaycee Greene: Hey @Chris Preone, welcome to the BP Forum!

@Chris Rendall couple comments,@Wayne Brooks is correct if it was a Homeowners policy now being transfer to an LLC and used as a rental.