I did buy in Detroit 10 years ago for $16,000 Now worth $500,000.00 My nextdoor neighbor (house 2400 sq ft) sold 3 weeks ago for $339,900Mine is 4987 sq ftI always posted I was in Detroit for the appreciation the cash flow was added benefit!

My college and potential partner,have good credit score (~750+),but he had a public record.The record is account paid,but information is still in his credit report and it is said the record will not removed until 2019.My concern is that can he still get mortgage from lenders?

Other options might include: getting an unsecured personal loan to cover the $20k, persuading a friend or family member to loan me the money, or cobbling together the money from random sources like credit card convenience checks and maybe a Lending Club loan.Problem is, while my credit is good and I have a decent amount of cash to work with, my income is low-ish and comes from four (!)

As far as I can tell, the benefits with the 30 year are:Interest is deductibleDue to inflation, the cash that Im using to pay the monthly payment in 20 years won't have the same buying power as the monthly payment does today.  

The benefit is that the payments are taken from your check pre tax which helps and you pay yourself the interest rather than the escrow company.

I understand that you are looking to live off the investment income, but if not, a better option would be rolling over that money into a self-directed IRA and invest with tax benefits.

I don't wish to include personal credit or income as a factor in getting financing.Any suggestions?

On the other hand, property owners benefit greatly by keeping sales data out of the hands of the taxation powers.  

In addition, I would update the listing to mention that you're open to owner finance at a very reasonable terms such as 6-7% interest rate with 20% down payment, no credit no problem and hope that would spurn more interest.

Remember all seller financed notes are purchased at a discount (depending upon the terms, buyer’s credit, etc.) .... so there must be enough profit to cover the spread.