Self showings, leasing call centers, I have a insurance companies credit department that screens the tenants and monitors there default risk throughout the year.

Hello BP Team,I have a property under contract which is assessed at 300k.

Lot: 15000 sq ft  2 unit building , 2 story , total 1500 sq ft , Just one room on second story , Detached heated garage 1100 sq ft with an office Numbers: assessed value: 285 kUnder contract : 180KExterior: Average plusInterior : leave the walls , but change everythingSome basic Ideas I had :1.

You also want to be aware of any self-employment taxes that could be looming.You'll also want to get a CPA involved or a tax attorney from a tax standpoint... what sorts of estimated taxes do you need to pay, what kinds of cash flows can you expect.. 

I have an 800 credit score with no credit card debt, however I am self employed and on paper my wife and Its shows we don’t make much, I think after taxes it was about 25k last year.

I'm mostly worried about liability - there is no mortgage so the estate could "self-insure" the dwellings, if necessary, but the liability part scares me. 

I agree with @Chris Sellers that your next step is to begin narrowing down your market choices.My best advice:Be ruthless with the numbers - Be crystal clear on your financial objectives and how you'll measure success.

I made a good amount of money last year, but I took 3 months off in the summer, so my self-employed income declined from the year before.

Here are some basics on the property.SFR RentalLong term (3yr) tenant pays $1350/mo + all utilities (tenant is local school superintendent)Owner possibly refinanced at $100k in 2003.26 acres2 /11 1/4 story capeWaterfrontDetached 1 1/2 story garageTown Assessed Value: $122,300Actual resale value: potentially around $150k Deeded access I have put in 10% management, 8% vacancy, and about 6% others (capex, maint, etc.)So here is what I would like to send his way for a seller financed offer with no money down: Seller financed at 5% (30 yr amortization) with a 5 year balloon payoff payment Balance payoff payment at 5 years (~$91,829) Early payoff <24 mos = 10 points ($10000)Early payoff >=24 mos <36 mos = 8 points ($8000)Early payoff >=36 mos <48 mos = 4 points ($4000)Early payoff >=48 mos <60 mos = 2 points ($2000)Option for buyer to extend payoff date up to 15 years (within 6 months of payoff date, at a cost of 2 points.)Buyer to pay all title, recording, transfer fees etc.Total Interest Paid (If paid in full at five year mark):$24,038Total Sales Price with interest (If paid in full at five year mark) : $124,038Keeping in mind that we make money on the purchase, I would like to offer a fairly low purchase price that would help me get my foot in the door, and continue to give him monthly cashflow and delayed capital gains.  

@Kathy Johnson, the previous owner self managed with the help of one of the tenents who did the yard work.