Seller finance for Flip (which strategy to use)

[Kyle Z.]

HI BP Community 

I need help on structuring this deal! I'll try my best to keep this brief.

 Im trying to buy a property to flip.  I have enough to rehab it but not enough to buy it. The seller has done some investing and was using the house as a rental so I don't think they need the money immediately.  I would like to suggest some type of seller financing but I am not sure which strategy to use.  Does anyone have any suggestions on how I should structure this? Subject to, wraparound? I want to make sure I protect myself and the seller throughout the process.  If anyone knows a good resource where I can research this please let me know. 

Here is the deal specifics if your interested. 

I sent out hand written yellow letters a got a call... it actually works people!

ARV:210-220

Rehab costs: 50k 

Seller said he is looking for 150k. Obviously there is some negotiating that needs to happen here. Im thinking of offering 115 and let him work me up to 120-125.  

Thank you!