I would check into the other products that allow 5% down for a 1-4 unit... smaller credit unions around may carry them.

I realize that in dollars it seems like a lot of money (if you're new to the game) but I have learned to go in to my deals with a conservative mindset.While the ARV estimate is $600k to $625k, I would expect to sell at the low end of the range because the house is "market weary" and we are entering the winter season.I would also expect to invest more into repairs & renovations than $25k because inevitably something else always comes up.And lastly, when a deal has monthly carrying costs of $3,000 it doesn't take long to drain the profit bucket.So for me, this is a skinny deal.  

@Carrie Oelrich Welcome to Biggerpockets.

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).