I know Experience is priceless so I don't plan to be incredibly stingy or picky, but I also don't want to be hasty and make a bad deal.

My husband and I have been running a heating and AC biz for over 3 years now, we do it all; commercial, residential, new construction, equipment replacements, custom duct design & fabrication, service, maintenance, repairs...

But the problem is it will make it so easy that scammers will become prevalent and uneducated people will make more bad deals. 

They are either good or bad, same as any other tenants.

Keep in mind though, i don't know your area specifically, but better quality house rents for higher rent, and whether the house is nicer or not, the upkeep costs are the same (e.g.

Hiring an attorney to help isn't a bad idea either.

(the down payment is completely relevant to the seller)Interest- 7% is pretty standard...it's a premium paid for consideration in carrying the noteAmortization- 30-years is typicalPayment- I would look for the actual P&I based on the amortization schedule, but again, this is relative to the sellerBalloon- 48-60 months is common, and this is completely up to the seller as well (If sellers are leary of the time frame, I always agree to attempt a re-finance sooner...but no guarantees)Some extras:I always pay the listing agent's commision based on the transaction price...otherwise, you can structure a partial commission the first closing and a second commission when the balloon is due...waiting 48-months for the rest of your commission is crazy, thoughWe pay all the doc prep fees (note/mortgage/amortization/assignments/personal guaranty) Typically around $300, so not bad.- use the attorney at title and add it to the HUD-1We use a clause in the note that waives the right to defend a foreclosure in default, so the property returns to the seller without contest (varies from state to state I imagine)We also pay the sellers closing costsAll of this stuff is negotiable...you can always push things with these...like lower the down payment and have the buyer pay all your clients fees and your commission, etc.Give me a shout if you want to chat more about this topic.

My question: is it cheaper to go conventional with more down vs FHA with 3.5% and for some reason I ended up costing me a lot more this time around......any help or advice would be appreciated, I feel very stupid for making this bad move on my end.

I plan on building a relationship with the seller to get more information on the deal such as a list of all the properties, current rent, rent history, status/quality of each home, cap rate etc.My issue is I don't have anywhere near the 20% to 25% down payment, even if I were to negotiate the price down by $1.5 mil.

He's exploring other options now.I feel badly that we all missed it.