Be prepared for things like carrying costs, permits, and any surprise repairs that come up.

That is what it looks like and it is also what Carrie told me when I spoke with her about it.  

In fact, he carried it a couple of steps farther.  

If I recall correctly, both had long-term, seller-carried notes at fixed interest rates.

As I matured in my career I have expanded my lender network and product line with the goal of carrying a very wide variety mortgage products at the best rates.

But, when it comes time to put the deal together and pull the trigger: work with a seasoned real estate attorney with experience in structuring seller carry deals and writing thorough docs that cover your interests, especially with the "what ifs?"

Another option is seller financing, where you negotiate directly with a motivated seller to carry the note instead of going through a bank.

That carries over to the economics of the deal and you'll see returns much lower than if you run them on a more efficient floorplan. 

On another 10-unit mixed-use property in a nearby coastal town, we carry hurricane and earthquake insurance, in addition to O&L (ordinance & law) supplemental coverage.

I just acquired a little 2 bedroom condo last month on owner financing with $7,250 down and the owner is carrying the note for me for 12 months.