That's been done but is very rare.I'd suggest you walk away first, but if you must, don't do an installment contract as you won't have enough room to refinance or finance the deal without cash injected, if that's at hand, just buy it.You can cover payments with a lease.

If the numbers worked out you could sell a vehicle to come up with $ if you had enough equity in a vehicle or even refinance a vehicle to get the cash, just be certain that your new vehicle payment still gives you a profit, which it "looks" like it may..Be certain to make sure there is no issues with this property that will be a surprise an make you loose it all. aka due your due diligence still. :)Good luck!

That is rare.With these low priced properties realize that it will be difficult to refinance in the future as the loan amounts and the property value is below minimum loan amounts.

What would be my best bet.

I know it may seem crazy, but I'm just wondering if the wallpaper doesn't come down easily (which I bet it won't because it appears to have been there a while) how difficult it will be to fix the walls.

I see the bull market and have invested a bit in a dozen companies but the ETF's would certainly be a safer bet.

If the loan terms work out, this could still be a great investment, but be leary.Hard Money - you've got to find a fixer upper for this to work out, otherwise you'll end up paying 10-20% interest for a year and then having to come out of pocket to refinance at the end of the term unless there has been some serious (usually forced) appreciation.Another possibility, which I can't much comment on would be a master lease with an option to buy.

You might call that agent's broker to ask about a better contract, I'd bet a multi is available through the Board of Realtors, if that broker doesn't usually have such business he may not stock 500 copies for the agents.I agree with Ned, begin with a basic meeting of the minds with the seller before sinking money into deeper negotiations and due diligence.$2500 may be steep for a boilerplate contract, but if he's representing you, doing the contract and taking you to closing (not closing but getting you there) that's cheap.

I suggest you have 25% of equity (you can estimate a conservative rate of appreciation in that) before any balloon payment required, this will be necessary for you to refinance it in the future.

I bet Vancouver is a bit chilly right now :)