The site said after I thought I posted this the first time and agreeing to the terms that 0 posts have been posted so I may have made an error in my initial submission, or there was a glitch. 

They definitely agreed with that sentence. 

Hey everybody,Here's what's going on: I have a motivated seller who has agreed to seller finance a duplex they own (not owner occupied).

@Heather Wingenbach  I agree with @Wayne Brooks. 

(the down payment is completely relevant to the seller)Interest- 7% is pretty standard...it's a premium paid for consideration in carrying the noteAmortization- 30-years is typicalPayment- I would look for the actual P&I based on the amortization schedule, but again, this is relative to the sellerBalloon- 48-60 months is common, and this is completely up to the seller as well (If sellers are leary of the time frame, I always agree to attempt a re-finance sooner...but no guarantees)Some extras:I always pay the listing agent's commision based on the transaction price...otherwise, you can structure a partial commission the first closing and a second commission when the balloon is due...waiting 48-months for the rest of your commission is crazy, thoughWe pay all the doc prep fees (note/mortgage/amortization/assignments/personal guaranty) Typically around $300, so not bad.- use the attorney at title and add it to the HUD-1We use a clause in the note that waives the right to defend a foreclosure in default, so the property returns to the seller without contest (varies from state to state I imagine)We also pay the sellers closing costsAll of this stuff is negotiable...you can always push things with these...like lower the down payment and have the buyer pay all your clients fees and your commission, etc.Give me a shout if you want to chat more about this topic.

They agree to rent a place as is.

@Scott Schultz I agree with the property management statement, it is definitely a plan for the future.

Basically, they keep 25% of the equity, and in turn, they receive a 25% payment of the NOI on whatever schedule you agree upon.

I agree with @Roman M. , Matthew Nicklin is a good guy with a lot of experience in the industry.

I agree with some of that article.