But it does happen. the major risk is to the person you bought the home from. its their credit at risk.and of course if you put any down payment that would be at risk as well if things got bad.when you go into these deals you need to know if the bank does call the note that you can refinance and pay it all off or you have the cash to retire the loan.. anything short of that and your at risk .

You would get financing based on that info.I would start looking at SBA loans for something like this.

In 2022 I participated in a hard money loan and terms were for a year.

Most of the big banks who originate 80%+ of all loans, typical hold these on their books. 

The upside, we will be loan free and clear on both rentals and cashflow for both would bring in $1950/month.

At a typical 20% down ($306,120 loan), 5% interest fixed for 30 years, Interest starts at $1,276 / month.

I secured financing for my first property through a conventional 30-year fixed-rate loan, securing a favorable interest rate for stable and predictable long-term payments.

And right now some deals (less conservatively structured with high debt, floating rate loans, etc) are under distress and had to stop distributions.

The partner is only bound to their initial investment but can loan more money to the partnership if they want to accelerate. 

I'm looking into a few different loan options.