Needing help! Looking at my first rental.

[Jacob Kendall]

I found a good starter house for me start my rental property empire! (Yes I said empire! Gotta think positive!) 
It's a 3 bdr 1 ba small town home. 
I talked to the owner that lives 400 miles away. He told me he would be interested in doing owner financing if I needed it. I told him I was looking to get into the rental business and he himself was in it. 
He seemed like he really wanted to help me out! I think I have a great opportunity here that I need to pounce on pretty quick in order to get my foot in the door. 
 
How should I approach him? and with what kind of terms would be the best in your opinion?
I think I can settle for 24,000 and he told me he was renting it out at $450 a month. Which is realistically all I would be able to get out of the nieghborhood its in. 

 Any help would be very much appreciated!!!!