Question about rent to own houses?

The first 5 years the loan of $68,000. will be almost all interest based on 6% interest. Instead of having $525.00 amonth going to the principle for rent, he will only have about $30.00 amonth going for the principle every month. so take $30.00 month X 12 months= $360.00 principle per year X 5 years =$1,800. paid on principle loan balance $68,000-$1,800= $66,200.00 balance end of 5 years. You will still be accountable for property taxes and homeowners insurance. The rent should go up to almost $900.00 per month. Check his income and work history and have him prequalified for said loan with a mortgage broker. based on 35% of his income. If he can't qualify for a loan or is a credit risk, don't tie the property up. The end of 5 years that contract may be sold at a discount to a investor, but remember costs of repairs for those 5 years, such as a new roof, attorney fees should he default and if he files bankruptcy you will be up a creek. Don't sell rent to own, you will regret it !