Structure for a land contract?

[Nathan W.]

Hey all, I have an opportunity to enter into an owner financed sell of the land I inherited from my Dad when he passed away past year.

It has no structures on it and is listed for $45k (52 acres or so in Southwest Vrginia). Potential buyer asked about seller financing and this looks like a good opportunity to pursue a possible land contract.

Does anyone have suggestions on the best way to structure this? Down payment? Rate? Number of years? Balloon at end?

This fits into my overall strategy of passive income perfectly so I would really like to pursue it, but if anyone thinksits a bad idea I'd appreciate feedback on that as well.

Thanks!

Nate