I plan on buying a unit and selling it to someone who has trouble getting a traditional loan by providing owner financing.  

Anyone has any experience with this kind of investing?

Seller financing is actually very common, and there's tons of info here on Bigger Pockets about it. 

What is your question?

What percentage do you charge for interest? 

What happens if the house floods or burns down and the buyer didn't have insurance?

should I keep "just in case insurance"?

Originally posted by @Danual Berkley :

What percentage do you charge for interest? 

What happens if the house floods or burns down and the buyer didn't have insurance? 

should I keep "just in case insurance"?

The insurance has you as the mortgagor. Just make sure it's in place before you close. You can do this at closing. I get about 8% on my owner financed with 10% down. Have an attorney draw up the paperwork and close using escrow.

Thanks John. How did you mention me in your post? Whenever I do the @(name) it never turns blue