The zoning, lot size and proximity to the highway made it attractive to me.

They own the equity in the property as well as the home itself.Sometimes the asset can also be a liability; sellers can help themselves by assisting buyers facing income, asset, or credit barriers; sellers may fund different types of buydowns to lower rates, provide down payment assistance, or carry all or part of a newly created mortgage note; sellers who are trying to move a property in a slower market make the mistake of simply slashing their asking price; dont give away their equity in a "fire sale," implement techniques described here and get your property sold at a fair price.  1.Seller ContributionsNOT "seller concessions", seller contributions are really a range of incentives or other financial offerings designed to make the deal more attractive and doable for a buyer.a.

In similar circumstances, my priority would be to obtain possession and rent the property to produce income.  

The loan is qualified based on the debt service coverage ratio of the income the asset produces (relative to its expenses and annualized NOI). 

Once including repairs and vacancy it’s moderate, however due to the low amount of $ that I have to put into the deal I feel it makes it a bit more attractive for me.

If your numbers are accurate you would have a producing asset with no money.  

The fancy car is for show only, what really counts are your savings and your income producing assets.

If you want seller financing, a large down payment and full asking price will be attractive.

That exit clause needs to be not only fair but attractive, particularly on holds of 5-7 years (one never knows what happens), to give investors peace of mind. 

Look at appreciation rates in both areas in addition to cash flow you would produce.