Subtract the borrowed money($28780) and payments ($310 x 3 months) = $23,376 as total profit. 

If it is a good deal borrow the down payment from family members or friends.Joe Gore

@Mike SattemYou might want to step back and not try to sway the appraisal because they know their job, and if you don't like the outcome dispute it, and some lenders will back away when a borrower suggests anything.

It would generally include everything outside of the studs.Do they have enough in their operating account or do they use reserves (constant borrowing) to fund regular operations.

It is unlikely there is a situation here where the church is both a borrower and a renter at the same time.  

If the borrower defaults on the first and there is no equity to cover your note, then yes, potentially the first can foreclose and wipe you out.

Unless you're willing to pay a lot more in monthly payments (think 8-10% interest rate or more) and/or pay a lot more up front you're not going to find somebody interested in this.A lot of banks got burnt during the downturn and they're not interested in making loans where the borrower doesn't have 20%+ skin in the game.  

The only money you can borrow is from your own assets.

Low rates make it attractive to borrow money, but owning real estate free and clear is a great accomplishment.

I have only done a few, but instead of selling, I have just borrowed against the buildings.