Just got, 10K down payment on owner finance deal and I'm carrying the balance for the buyer at a monthly note to cover payments.  

Once you take into account all of the costs of obtaining their money, and get a true picture of the expenses on the property, 1200.00 in income might not look as attractive.Look into other creative options as well - would the owner of the duplex be willing to carry back the loan, or lease to you with an option.

Lately I have also been use Mint.com If it wasn't for all the debt I carry I'd be good.

Combine your experience with Bigger Pockets various resources such as: ebooks, forums, blogs, webinars, podcasts, keyword alerts, an awards system, a learn section mentioned by @Carrie Anderson, colleagues, informative people in many fields of real estate, and more. 

Hi @Carrie Anderson!

Originally posted by @Carrie Anderson:I did a search for you,"what to ask potential sellers", here on BP.

Term of the lease and instructions for carry-over (month to month).

If it's empty and boarded up, it's just costing you money, so only real choices are:1) fix it and rent it2) sell itOtherwise the carrying costs are just adding up every month. 

remember FHA will carry a PIM upwards of $200+ for the life of the loan (and 12 month occupancy req), make sure to add that in, or PMI if you don't put 20% down.

Otherwise, someone needs to be the manager, and someone else needs to carry their weight in a different area.