Seller Financing Ideas

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Like most newbies I have very little money to work with on starting out, but I am very good at marketing, getting leads, and working on negotiating and closing.

After feeling out the seller, figuring out what their bottom sale price is, etc and assuming its a good deal I have a few options I would like to pursue as my strategy. If they simple must have all the money up front than I would work on a number that I could wholesale out to other investors in the area that I know through networking.

I feel like I probably have access to enough capital to handle the rehab budget if I can get a seller to agree to seller financing aka hold the house for 6-8 mths while I fix it up and pay him off after I sell it.

What is a reasonable gap or difference between the two numbers and how likely is this to work. Example Mr.Seller if you simply must have all of the money up-front I could probably pay around $30k but if you will agree to seller finance the property I could pay XXX amount after I restore the property and sell it. Do you typically just agree to a standard increased price, interest per month and at what rate, etc.

Last what can you have both parties sign to protect both parties during the process and is there something available like this for Texas within BP?

Looking at any and all ideas to help me get started on my first few deals. I have access to around 5-6k in cash, and can probably get Lowes / Home Depot credit cards to help fund in the beginning (I know your not suppose to use credit cards but that's besides the point).

The neighborhood I am looking at are all around 1000-1200sqft 3bd 1-1.5 bath fixed up sells for around 80-85k and I am looking at purchasing property's with nothing majorly wrong with them other than flooring, paint, redo bathroom and kitchens. Just basically updating them from the 60's to today. Looking at purchase price for around 35k or cheaper.

ARV-$80k*.70 = $56k - $20-25k Rehab costs = $36-30k offering price.

I live in one of these houses for the last ten years and have rehabbed inside and out. Six streets worth all have the basic design and were built around the same time.

Long post I know and any and all ideas appreciated.