Quote from @Braeden Warg: The right way to do it is to contact the city and ask them.

If so what are the interest rates on those debts?

We raised $4.5 million in equity and got $4.5 million in fixed rate debt from Freddie Mac at a 5.85% rate.

The amount of capital required depends on the city's appreciation rate.

I am a resident physician in dermatology, during  medical school I bought a property in Denver with an Interest rate of 2.75% (COVID rates lol) with the goals of renting it out when I moved onto the residency.

When a tenant causes problems, I can remove them six ways from Sunday, typically much faster than the courts could do it.Financial Management & Reporting: It may seem small, but accurate accounting is important and not in the tool box of most investors.Market Knowledge & Rental Rate Optimization: Understanding the market is critical to maximizing returns.

When you finance through national lenders, in your experience, is a balloon a common requirement for commercial loans of this nature or is it possible to get a fixed rate for 30 years?  

But even then, seller financing is rarely substantially better than another investment they could make (including trust deed lending, which will often be at a higher rate than seller financing)In my experience, the owners who find owner financing advantageous are at the ends of their careers and are not interested in looking for another investment (other than the usual retirement funding sorts.)

If you contact me (my BiggerPockets profile explains how), I'd be happy to explain. 

I don't think you can say a place is doing "very well" when they're among the poorest cities in the US and has among the highest foreclosure rates in the country.