The "slow flip" I am referring to was purchase the property in the traditional financing way and then live there while rehabbing and improving (adding bedrooms, getting the yards back in shape, updating finishes, building or adding shop space, etc.).

@Kay S.Assuming you are getting title insurance (which I recommend) the closing costs will be similar to a traditional closing.

If the houses are in decent shape and could get traditional financing do not sell seller finance.

Obviously this is California spec building and not the traditional RE stuff I come to this website to read about :)I should not have said same as main house.

However, the risk of significant repairs is not to be taken lightly. 

We passed, but even little things like  string lights or not having a grate over the fire pit were big concerns.Overall the numbers in Fredericksburg are staying the same compared to 2022 in my experience.

They provide flexibility and efficiency, especially for experienced investors.How have you found the terms and structure compared to traditional options?

The mortgage company gets paid off first, then in a traditional sale, the rest minus agent fees and utilities and closing costs goes to the seller.

Add outdoor security cameras (just let guests know they’re there) and maybe some motion-sensor lights for extra safety.

We will be adding a day light basement to their Studio House plan to capture views of the lake we are building on.