Seller financing with interest-only payments and balloon

[Peter Halliday]

I'm wondering if anyone has been able to structure seller financing before where they pay interest-only payments for like 15 years and then a balloon. I have a lead on a property in a B area of the Northwest Chicago suburbs. It's an area that's had some depreciation and the current owner has lost 25% of the initial value he bought it with ten years ago. But the balloon payment Im thinking still would be doable as a sale even if there was a similar depreciation. I think it would be more money that he could sell it for. Also, it could be tax beneficial with part of the estate income from interest For me, it would cash flow better. Rent would be 2.3%. Sounds like a win-win to me.