To assess safety, look at crime rates online and visit the area if possible. 

I am paying him $510,000 at 4.5% rate over 10 years.

This is the ‘market’ cap rate!

In addition to identifying owner-financed homes, they can negotiate better interest rates and terms with the seller and assist you in completing the transaction.

So, the seller gets the benefit of charging you a higher interest rate for a loan they did not originate. 

With the current interest rates being cash-flow positive even with 20-25% down with conservative underwriting has been hard.

My thought is, wouldn't the bank be incentivized to sell at my rate, as opposed foreclose on it?

Our home is accessible to major freeways, and shopping, and about 15 minutes to the DFW International Airport.Major employers nearby: Sabre, Charles Schwab, Deloitte University, Fidelity Investments, Travelocity, Amazon, and Wells Fargo.For the active lifestyle, within a couple of miles, is a tennis center, pickleball complex, baseball fields, a community swimming pool, walking trails, and a community fitness center.CRIME RATES:It is considered one of the safer cities in the nation where crime rates are well below Texas and National averages.LEASE DURATION:The residence is offered for short-term leasing with a minimum rental period of 30 days.MISCELLANEOUS:We offer initial sets of bed linens, towels, and essential bath items.

Considering refinancing if rates become more attractive or I need the cash out for something.

80% LTV, 10 year fixed rate at 4.25%, 25 year AM with a local CU.