Welcome to BiggerPockets, Steve! 

Determine local/state laws regarding wholesaling and determine if (1) you need to be licensed in the jurisdiction you’re considering and (2) if you’ll be able to operate profitably while remaining legally compliant2.

What would the difference be in your payments from 6.7 to 5.2?

Purchase price: $8,000 Cash invested: $2,000 I purchased 2.5 acres of Raw Land in Joshua Tree, less than ten minute drive from the park and downtown area in 2018.Purchased via seller financing.2k down with monthly installments to pay out rest.Current similar lots are selling for around $65kI plan to hold long term Would eventually love to develop something on the land-either an art park or residence.

You can do a subject to transaction but that is not legally assuming the loan.the banks got rid of assumable mortgage long time ago. 

@Mindy Rosscup, you want a contract that is specific to the laws of your state.

Some states allow the owner to hire employees to work on their behalf.

Another thing to consider is if you want to setup "single-asset" LLCs that only over 1 property to further limit your liability.

Some lenders may also want to see law and ordinance coverage in your insurance and perhaps a rebuild letter from the city stating that the property could be rebuilt as a residential 4plex if destroyed. 

The victim in some states has the right to ask you to change the locks.