They make great product now that can handle water without warping.

if it has not been maintained and you have poor flow, your dryer will overheat and this in turn could shorten the lifespan of it. 

There isn't an "IRA-like" product that would let you do that.. 

To my knowledge, I don't know of a loan product that is low money down like FHA for new builds.

Sit down with a local lender, open a checking and savings account if necessary, and see what loan products they can offer.

I see they have a 30 year fixed product and they seem to be sponsored by BP. 

I am a very skeptical person and dont want to get scammed into pay 10xs more for a product.

This probably doesn't even make sense for your buyer, unless they are so poorly qualified you probably shouldn't be doing the 2nd note anyway. 

Use the network however to see if you can find some product for lower cost.

Because we have to keep in mind that with today's numbers, a negative or limited cash flowing property could merely be poor management, supply/demand catch-up, or some minor changes to property to get it competitive with going market rates.