If your first figures are actually what your uncle meant (only requiring you to pay back $156k over 30 years), then, oh that we all could have uncles like that! 

I just meant that I will be marketing and leads will come in. 

Everything happens for reason and this was just not meant for you.

For me, real estate was always intended to be a tool to get me where I wanted to be, which meant not having a J.O.B. ever again and having the time and financial freedom to pursue other interests and other ways of creating income.I did sort of update this on another similar post that was started by someone else and I didn't realize this one was still lingering with the end of the story untold.https://www.biggerpockets.com/forums/432/topics/186918-seller-financed-down-paymentGood luck with your deal. 

You may still purchase those first properties in your own name ... or you may elect to incur the overhead of a holding company from the start.  

Meant that most of the advertisements from HMLs were 65 to 70% of ARV but based on the quotes, the loan to ARV appear to be in the 35 to 40% range.In your case and in California, you appear to do up to 75% of ARV?

I saw that you and your partner were going to do your own "sweat equity" and was curious if you meant that you are going to do all the work or going to find it and do all the work.  

Since your goal is to buy and hold you would have to refinance into a longer term loan once the rehab is complete and the property is stabilized with renters.If by "full" financing you meant was not personally guarantee your loans- in most cases you will not be able to do this anymore.

No one knows for sure and with the upcoming election most think we aren't on track for a "correction." 

@Brett Winston you're buying their house not just trying to sell it so when I said default I meant default on the loan which is what they are giving you.