The more challenging part is trying to determine the discount rate on an average life that isn't directly correlated with an easily accessible treasury.

That part is pretty typical and may need to be done just so the buyer can satisfy loan requirements if nothing else. 

I like up North, growing area, C/B area for the most part. I

If there is an existing title policy the title underwriter is the best party to start with.

Full inspection will be conducted by 2 separate third party inspectors.

The deed of trust has a third party, the trustee.

If both parties agree they could rent for 10 or plus years (I think we are not that regulated).

An example would be For Sale By Owner because it seems pretty easy when the market is hot, the property is simple, and both parties are honest; it doesn't take much for a FSBO to turn sour.AirBnB arbitrage is another model that looks good on the surface when everything is going well.

Keep in mind that you might end up being either party, so you have extra incentive to make the terms very fair. 

The fun part is that I teach at an art school where I have some really scary looking, tatted and pierced co-workers who happen to have MA's in theater and wouldn't mind a fun gig over the summer.