Owner finance ?

[TeamAmerica]

I wouldn't do it. Foreclosure laws favor the owner (not you as the lender). you will have to pay a lawyer to get the house back and you will have to hire a contractor to fix it up to sell it again.

If you do, you better sock away the interest payments every month into a reserve account!

[curtintex]

The most powerful force known to man is compound interest. It can be risky, but with some due diligence you can learn to mitigate that risk.