@Cory LucasLots of factors... which has the higher interest rate?

Get an inexpensive motion alarm and set it up next to the easy access point (back doors/windows) and hook it up to an external 120+ db siren and external flashing red lights.

There is certainly a lot of "unknowns" and the old adage, "You can't go broke taking profit" certainly seems to be playing a factor. 

@Anne PitkinAlways speak to an accountant and attorney before entering into seller financing deals.What the seller purchased the properties for is not a factor in the equation; what they owe on the properties does matter (if anything).

Factor in minimal tenant turnover, lesser chance or probability for evictions, etc and again it may make more sense. 

@Kenneth RolfeI've done multiple offers successfully before on a single family property (lease-option and seller financed mortgage), although I ended up pursuing and closing on an unrelated deal (cash).I think the biggest factor in creative deals comes down to who the audience is.

First, you will factor in depreciation to calculate net rental income or loss.

It also doesn't seem like you're factoring in management as a cost in your NOI computation.

I will factor possible future repairs into the price of the rent moving forward.

Payment Breakdown:Principal and Interest: 1321PMI: 59Tax: 253Homeowners Insurance: 33Condo Fee: 400Total Monthly: 2066 (27.5% gross monthly income)While I am increasing my housing costs by a significant factor compared to renting, it’s right at part of the recommended 28% of monthly gross income.