Thoughts and experience using them? 

@Tanya Maslach What was the asking the price and what was your original offer?

It would be more like $5500 per month...and that's just the P&I.  

@Reeves Bennett, Your property sounds fantastic, and the key is targeting the right buyer while showcasing its value.

@Dan Guenther I got your message and replied.

And then another $30K-$40K for renovations.

My biggest tip is to save way more that you make and then buy a 2-4 unit building and use a 203k or homestyle renovation loan to do some rehab and add some instant equity.Also, Network as much as possible and get comfortable approach any one and asking lots of questions. 

Great investor org in Grand Rapids, and they have their big annual event coming up in February.

Quote from @Sam Epperson: let's say I come to an agreement with the seller for them to finance some of the deal. let's also pretend the seller owns it with no debt, and we agree to 5% down, 5% rate, and 10 year balloon. how are we drafting this legal document?

I have worked my entire career in construction and last 2 years performing entitlements, permitting, and construction for industrial developments along the Wasatch.