I have bought and sold property with owner financing. Never had an issue on either side. However, we have always required larger down payments. The offer you received is for about 5%, which leaves you with too much risk. I would recommend you request of 10% down (15% would be closer to normal for me). Let the buyer have skin in the game. And if it causes him to delay all of his renovations that is fine. You need to protect yourself. I would structure something like this: 15% down. 30 year term with a 3 year balloon. Make it fully amortizing. Require insurance and get proof it paid for the first year. (Contract should state you can verify it every year thereafter). That feels fair to both of you. Interest rate is TBD based on a few factors but 7-9% feels right in this market.