I think of anything below 5% is free money if you handle it properly 

If you properly purchase a property (say that 3 times fast!) 

If you continue with this option I encourage you to use an attorney experienced in creative financing and ensure that the proper documents are file with the Court in order to protect yourself and to "cloud" the title.  

This is as far in a deal as I've gotten and I'm unsure what is the next proper step. 

So everything is weighted and calculated whether that loan is a good fit or not with your property or properties.   

If they really want the house, they should still want it in a year or two, and they should be able to save up the 15-20k they need to buy it with a proper normal loan.I realize a ton of people may disagree but let's get real, the biggest problem with the real estate market is people buying what they can't afford.

With the proper equipment (and a handheld glass cutter and a straightedge are not considered "proper equipment"), cutting the glass is a piece of cake.

Books, podcasts, and forums are great, but are not and will never be a proper substitute for practical experience.

@Fantasia BowserYou have been given the proper answer, but on a side note, as it appears you may not be entirely familiar with basic contract law, you may be lacking some critical knowledge in other investing areas too so it would be wise to consider partnering on your first 5 or 6 deals with an active local investor so you can learn how to properly enter and exit a transaction without causing yourself potentially serious ramifications. 

A go-getter with the proper attitude cannot be denied.