Newbie Question

I found a home fsbo, appraised for 65000, she said she would take 59,000, she has been renting this home for 550-575 @ month. My question is if I offer her 2000 down and she owner finances it for $500 @ month for 10yrs and I rent it for 550 @ month, so in 10yrs I will have the house paid for (mostly from renters) and then it will be all income.
Does this make sense? Thanks

Your asking her to carry the loan with 0% interest. If you can get her to do that, I’d take it. The problem will be if she has an underlying mortgage. You will be paying her off before the underlying mortgage.

Mike, ask yourself a question. What’s in your offer for the homeowner? Why would she be willing to accept your offer, rather than just continue to rent the property herself?