Thank you both. I haven't dug into it yet, but those are a few of my questions as well. Is that 30% over the 5 year plan period? What are the fees? What are the risks?
Problem at the moment is the DW is quite enamored and she brings it up often. In fact, during the conversation the guy critiqued my recent sale of a rental. He wash't being malicious, but I think he was going a little overboard in trying to let me know how much he knew and how good his "product" was. After he got through his speech and the conversation and enthusiasm died down a bit, after my DW lamented that we weren't selling the house in one fell swoop and giving all our proceeds to this guy (BTW-this was the DAY BEFORE CLOSING, so no way in heck was I going to jump on this proposal), I gave him a few of the details and eventually all, but slowly. His comment (and the look on his face) was pretty priceless.
Me:"I'm getting about $25K more for the house than I could expect on the open market."
Him: "Oh, it won't meet appraisal?"
Me: "...and I have set up the 6% mortgage in such a way as to avoid all long term capital gains (thank you MMM forum!)."
Me: "...and, I'm not paying any real estate commissions."
Him: "oh (and in a downward trailing voice), that's a pretty good deal."
Problem remains that the DW is more emotional than rational, so it will just have to be as it is (and me repeating myself for the next couple of years).
Anyway, I closed on the property yesterday and am looking forward to putting all those little green soldiers to work for us, and add that $$ on top of the deal described above!