The owners have agreed to sell me the lot via Seller Financing.

Yes, you will have to put 20-30% down (you can get creative and ask the seller you carry this portion if you don’t have it, ask friends and family, partner with someone, etc.) and your credit and DTI must meet the bank requirements. 

@Surya Kumar what you can do to minimize your out of pocket money at closing is to have the seller pay as much of your closing costs that the lender will allow.

The seller was asking for 200K with no upgrades, but after doing our due diligence and reviewing our CMA report the property was listed above market value.

Everything else was pretty easy; there isn't a ton of information out there on the exact things that should be on a contract to protect yourself and the seller, so it was definitely the trickiest thing to learn right. 

If the property is AS-IS, then that means that the Seller is not doing anything in the way of repairs. 

I think you are a little low on your closing costs, unless you plan on making seller pay part of yours.

I'm and agent in NYC.There's a huge difference between being the listing agent who is a dual agent (represents both the seller and buyer), and being the listing agent who has the seller as a client and the buyer as the customer.

If not, you may want to ask seller what the average utility bills and highest bill.

I'm attempting to build my pipeline of buyers and sellers concurrently.