Come up with terms (Down Payment, Interest Rate, and Amortization Schedule) such as a 5% Down Payment, a 6% Interest Rate, and 30 Year Amortization Schedule.

The advantage with the bank was minimal closing costs, a good interest rate, and a draw system so I could get funding as I completed each rental unit. 

Oakland has some ambitious plans to improve the city, and as rate improves, I firmly believe certain parts of Oakland will recover faster than others.

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

I'm not sure if you'll be able to find his contact information and I'm also not sure if I can share phone numbers on a thread so if you message me I'll connect you up.

The reason I ask is because most deals I see on Crexi or Loopnet or anywhere else create negative cash flow under 7 or even 10 year terms with 7% - 8% interest rate.

But even then, seller financing is rarely substantially better than another investment they could make (including trust deed lending, which will often be at a higher rate than seller financing)In my experience, the owners who find owner financing advantageous are at the ends of their careers and are not interested in looking for another investment (other than the usual retirement funding sorts.)

That was when the market was stabilized, rates were sub 4.5% and distressed properties actually sold for a significant discount.Today, distressed properties sell for a premium and cash out refi rates are over 8%. 

Would like to know more before having to contact them.Any info appreciated.Mike F. 

I'll reach out to my contact and send you a PM if that is ok?