I have no experience on how to value land or trailers though.It's 295k. 2% earnest money. 

I can't sleep at night feeling I may have left money on the table, so I do same day. 

In our case, we make purchase money loans toward local flips, and I argue that deferred payments make our loans safer.

Most land flippers know how to evaluate the option for seller financing, but are you asking because you like the strategy or because you don't have money to buy land? 

Is there anything wrong with making this deal now without the realtors saving the money on their commissions?  

When I budget for maintenance, cap ex, and vacancy I take money from all income rents and put it into one pot that I manage.

Never buy a property without putting your eyes on it, if you are spending htat much money get on a plane or in the car and view the property yourself.

I could raise money and bring in partners, but I'd prefer to own 100% of both the business and the real estate.

Use cheaper future dollars.But one of my personal rules- It's your money, your right, even if you're wrong. 

The pros: - not having to do a major renovation from out of state- easier to get a conventional loan since the house is livable vs. a distressed property (would need to pay cash, do a hard money loan, some other type of financing)- can get a tenant in quicklyThe cons: - you don't know how good the renovation is, could be cosmetic without addressing underlying safety issues (plumbing, electrical, foundation, etc). - a home can pass an inspection but once someone is living in it and putting daily stress on the house (turning faucets on, light switches, turning on heat/AC etc), things can start to malfunction.