Waiting for up to $30k offers more options and a financial buffer.

There was a guy on BP who tried to get one going down by Colorado Springs awhile ago called Bonsai Village and got as far as buying the land, but could never get permission due to NIMBY neighbors  and it got stalled in legal red tape until the  land eventually ended up being foreclosed on and turned into open space.

Having to buy another primary residence, to avoid tax on the gain of your current home, has not been a requirement for over 20 years.Assuming it was your primary residence from the beginning, and you have not moved out/rented it for more than 3 years, you gain is exempt up to $250k filing single and $500k married/filing jointly.

Lastly, what’s a reasonable interest rate to offer the seller on their financing?

Thanks for the heads up, I saw an email about discounts but I didn't read it.

(I don't want him to put a lien on the home or break-in himself and mess things up)Any other recommendations you may have.

Reason I ask is when you look at the actual final rate its almost not worth doing the 2-1 or 3-1 buydown since the rate is higher than taking a normal rate. 

The basic fees on a loan make up too high a percentage on low priced loans which classifies them as predatory.

My current issue though is that my mortgage and insurance have gone up to where it no longer seems like it would be valuable as a rental.

That said, I'm unfamiliar with the market and would love to meet with other investors who are finding some success (and mishaps) to help refine my game plan.If there are any REI meets ups please let me know!