How to set the terms for a Seller Financing deal?

[Fabricio Laboriel]

Hello Bigger Pockets family! So I want to get started into buying rental properties and would like to know if any of you guys have purchased a unit or more through seller financing? If so, how do you structure it? Do you, as the buyer, provide a downpayment and set the interests paid monthly? what is the standard interest for a seller financing property? How many years should you seller finance it before refinance? When you refinance, do you have to pay a downpayment or its not required? How do you keep track of how much you have paid towards to debt balance or the interest paid monthly just goes straight to the sellers pocket?

I know it's alot of questions but any kind of guidance will be very much appreciate it. Thank you everybody