First Seller Finance Deal Advice

[Zico George]

Hi BPer,

Please help, is this worth it as either a flip or rent/hold

I've meet a owner(free and clear) of a single family who suggest to me he'll do owner finance even though i told him i can qualify for conventional loan and have the 20% down payment. He sent me an excel sheet of property below. Property is in Lowell, MA 01854 close to Lowell General Hospital.  

Purchase price of $250k, $50k down, 4.5% ( ARV ~ $325k, dont know cost to fix yet)

Bank Mortgage payment - amortized 30 Years (principle and interest)	$1,013
Water $ Sewage ( Annual $800)	$67
R/E Tax (Annual $4264)	$355
Insurance (Annual $1400)	$117
Estimated total monthly cash outlay	$1,552
Rent	$1,775
Net cash inflow	$223
Balloon Payment due 2028	$ 155,123

[Jeff Dulla]

@Zico George Are you receiving any benefit from his structure? Lower down payment than 20%? Lower rate then what you are finding elsewhere? 

Why would you ever complicate the structure if you can afford to do this a traditional route unless you are receiving some benefit or help on a loan that you otherwise couldn't afford?