I didn't read every word of the above responses but:

1. If you can possible get financed with the other party leasing from you, this may save you some heartaches and legal fees. Most lenders will look at the money collected from a lease as income in figuring eligibility.

2. Shorter mortgages don't cost you tahe much more a month and will save you a bundle. Check into a 15 or 20 year ans compare the monthly payements and total you will pay over the life of the loan with the 30 year. If you must go with a 30 because of qualifying, try to add and extra $100 or more per month to your payment and this will save you a ton of money.