It's not a great cap rate, I was mostly buying for the large amount of equity.To make the deal a bit more profitable, I was considering advertising for "small downpayment, low monthly fee" and find a buyer who doesn't currently qualify for a conventional mortgage (for a reasonable reason, ie I would still be pulling credit to make sure that the buyer is half decent), and offer an AITD at the current market value, with a $10k downpayment and an interest rate of say 6% (which would even give me small spread on my own financing).

Is the spread between the cap rate and the cost of funds sufficient to account for the risk you're taking as equity owner and borrower?    

Last week I was looking at a seller finance deal on a Duplex, I was going to buy. That has changed for now and I have learned a very important and valuable lesson.So the deal was my first seller finance deal and I was...

The spread is to small to flip in the city of Cleveland itself. 

https://www.naca.com/naca/media/mediaVideo.aspx?

What a killer spread!

Word spreads quickly when a great deal surfaces.If you continue to send out letters, cash buyers will start to contact you to see what you have.  

Assuming your material costs are the same and your labor is similar (12 -15basic labor, 20-25 skilled and 30-35licensed) your getting screwed.If you want to be a flipper you need to have all your materials picked and priced out in a spread sheet, home depot is a good place to start.

So you would get a 7% return on your investment, but you now also earn a 2% spread on the 80% debt.  

Twitter, like all social media is about mass,  The more mass someone has the more followers they attract.