I think his current mortage is around $750 a month on a 30 yr.I'd like to pay about $1200 a month total outlay to get it paid down. 

@David BiederbeckDefinitely convenience and security.

But ultimately we just got a really great FSBO deal.This is our first time securing a mortgage on a property we own and we assumed that it would be appraised at current market value.

I have negotiated with the seller's agent to represent both sides of the listing and reduce the total commission payout. 

@David Hannah Purchase Price (-$102,082.00) Purchase Closing Costs ($175,000.00) Total ($72,918.00)according to this, the seller is paying you 102k to take the property, and your closing costs are more than the price of a house in half the country.

Most of them exist to take your “membership fee” or other large upfront fees totaling thousands of dollars.

from total strangers that know nothing about you.Well, are you 30 pounds over-weight or 300?

So essentially in about 8.5 years I’d have both units totally paid off and in the clear.

Totally renovating the 2 family home into two condos.

Be sure to also determine the total expense of foreclosing if she can't refinance in time.