You need to carry insurance, especially since there may be renters given it's a triplex.

Thanks, Gary Neely Gary, Just use you standard state contract and write out the terms of your seller financing in an addendum or on the OTP itself if there's lines for additional provisions.Be clear and concise.Example,Seller will carry a promissory note secured by a 1st position mortgage in the amount $97,583.00, at 6% interest, amortized over 30 years, witha a maturity date and balloon payment due 10 years after the closing date.Hope this helps and certainly get an attorney involved if you are not comfortable drafting the language.  

They also allow improvements (with documented evidence) to the property to be backed off the sales price for basis.If you do not need the money and don't mind the cash flow, consider owner finance and carry it out for years.  

I carry the E&O for all of my agents.

Many of us have been investing for decades, always carried reserves, never had more than 1-2 months of vacancy, and never had rents decline (all intentional and controllable based on what and where we buy). 

If the sales price is $850k you will need significant down payment to carry the DSCR loan on $5300 current rents...check in with @Joseph Chiofalo  as DSCR loans 5+ units are typically a bit more difficult to place as well. 

i think carrying costs like interest are something investors love to omit. 

For example: If your credit limit is $500, you want to carry a balance of $45.00.

I also know that doing a 1031 exchange will enable us to carry all of the proceeds from the sale as a deposit on a new property.   

So, even if 1 property has excessive expenses in a given year the other properties carry it.