Buying a house with owner financing??

[Chris C.]

Have a house that is currently rented that just came available near me details are rented for $700 a month which is on the lower price for the area, they are asking 50k and according to the auditor site it's valued close to 70k just for details I'm wondering what would be a good deal to go for and what would be good terms if I could get them to do owner financing? Thanks for any input