Owner financing question

[Harriett Williams]

hey Bigger pockets fam!

So I have a question. I'm going to meet with a homeowner on Thursday who is interested in possibly selling her or renting out her home. She no longer lives there and have put money into renovations but doesn't want to put anymore money into it. The problem is there aren't any comps! Why? Because it's one of the only blocks for a few miles with SFHeverything else near the area are townhomes. Per our phone conversation she seems to want market value although I'm sure I could get a good deal given she's motivated. BUT I'm just not sure the deal will work for a flip or wholesale. I live very close to this house and kind of in the market to purchase a home and this house is really close to where I live and my kids school so im REALLY considering getting owner financing and purchasing it myself, and finishing the repairs If needed. The only thing is I don't know anything about owner financing. The home is free and clear, do I put down a deposit? Do I get a loan for the repairs? What should the terms be? Anything I should know before I make this type of decision? The home is worth about $250,000 if that helps.