House hacking a duplex

[Julie Goodwin]

I’m looking to approach a seller of a duplex for 294,000.. This would be my first rental property. I will be house hacking. I sent a message and honestly did not think I’d get a response, but I just did!!! So it’s 294,000. 1250 per unit. I was going to ask for 290,000..4,000 at closing and 7% interest monthly payments with a balloon payment at the end of the one year mark. I’m just not sure about the 7%.