Owner financing on dueplex help!!

[Nicholas Godfrey]

I have a owner of a dueplex that is willing to do seller financing. His deal is I pay $800 a month for 3 years and after 3 years I have a balloon payment of $75k.10% down payment. his asking price is 85k and I have comparables that put the property from 75k to 85k so 85k would be top market. 

The property is has 2 renters that pay $600 each total $1200 income minus $800 payment. I would like to do less then 10% down. Is this a good deal or not?

Also I need to worry about refinancing in 3 years witch means I need a strong equity position.

Any help is appreciated thanks

[Will Gates]

In order to determine if it's worth considering or passing... you'll need to find out the other pieces to the puzzle...

Insurance price? 

Repairs needed? 

How long have tenants been there? 

Do they pay on time? 

Will you be self-managing the property or hiring a property manager?

How much are taxes?

Will you be able to get financing by the end of the 3 years?