Breaking Even & Potential Cash Flow•Your goal of breaking even in Year 1 is very achievable, especially with a 5% down payment and PMI removal via renovations.

We negotiated a price that worked for both parties, closed within three weeks, and took the property down ourselves.This deal was so clean, we didn’t even need to hire professional cleaners.

First time buyer loan with 11% down.

However, when STOA first started going down the tank, they were negotiating with me on interest because selling them on MLS was a different entity at that time.  

150k is steep for land acquisition for a tear down unless you are at 750k and up or multiple units.

You won't find any reasonable ROI in the Phoenix area with $150k to $200k down. 

You will likely need to save up for your next down payment.

It will save you a lot of headache down the road.

The SST doesn't apply for legal 2-flats so if you want to use FHA it's probably better to target those that maybe also have a non-conforming basement or attic unit.This is why the 5% down conventional loan is a game changer for house hackers.

I would guess less than 1% of deals are seller financed - and most of those are still done with 20% down.