Owner Carry/Owner Financing

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Hey Bigger Pockets Community,

Hope everyone is having a great day. 

Looking for advice or resources. I've read a few articles on Bigger pockets about Owner carry, and have become quite intrigued on the topic. Most articles I've read have been from Brandon Turner. They were great on why it can be so beneficial. But now i'm trying to find info on practical questions. For instance I have these kind of questions

1) Who are the people that need to be involved, I'm assuming just a lawyer?

2) When you pay the mortgage to the owner, do you also pay them the property taxes and Insurance?

3) What if there is equity in your own? Is it useless? If not, how would you acquire the equity?

4) Could you put a No Prepayment penalty in the contract?

I am a visual learner. So If I can envision every step in the process, I'll understand it in its entirety.

If you have any advice, arti