Loan Term and AmortizationCommon Term Lengths: Loan terms for seller financing vary but often range from 15 to 30 years to keep payments affordable for the buyer.Balloon Payment: Many seller-financed deals include a balloon payment due in 5 to 10 years, at which point the buyer would need to refinance or pay off the remaining balance.

@Renee Potoczny @Anthony Wick @George Pauley Update:  I requested that she furnish proof from her bank showing that the funds were available and remained sufficient through the processing period. 

For interest only, it’s a 40 years term. first 10 years would be IO, then it would amortize over the remaining 30 years.

Now, if you’ve never done this type of development before, let me fill you in: you have to identify and (the jurisdiction will) relocate any human remains before proceeding with construction.

As a hard money lender operating in the Central Florida area, including Tampa, I can tell you that the market here remains strong, with plenty of opportunities for savvy investors.Tampa's real estate market has been quite active, with demand still high, especially in desirable neighborhoods.

If you are prudent, aggressive and the market remains steady I think you can be a millionaire in 5 years rather easily. 

@Sean KirkThere are turnkey REI opportunities in different markets - markets in the Midwest and Southeast of the country are great - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

From there leverage your remaining $70k for entry in a distressed multi-family asset.

Meanwhile, the buyer remained patient, saying he was willing to wait.

She would pay the remaining time she has left, and we would start the rent ready upon move out.