NEED HELP STRUCTURING SELLER FINANCING DEAL

[Chris Corvil]

Hi,

I currently rent a room in Central Jersey in a 3 bedroom 3 bathroom condo. My landlord who owns the home has owned the house for over 40 years has decided to sell the condo and begin retirement. He has 2 other properties and put this one on the MLS for 290.000. I am young but have been looking to get my start in real estate investing and feel as if this the perfect opportunity. I have a great rapport with the landlord and have even have fixed a few things in the house for him so he would not have to. However, I do not have 290,000 to borrow and would not like to take out a mortgage. I have been doing ALOT of research on possibly constructing a seller financing deal, but am not sure how to move forward with it. Any suggestions on how to propose a seller financing deal for this situation and how the numbers should look and how to approach this with the landlord? I have about 15k saved and make about 45k a year with no debt other than a credit card. I also have my RE license if that helps. Thanks!