Seller Financing Question

[Alex Scattareggia]

This is a scenario being presented to me, I am the buyer in here:  what are the downsides of a contract like this?

-seller financed

-property has no mortgage/ completely paid for

-200k price, 50k down, 150k financed over 5 years @6%

-Buyer takes ownership of the condo and can begin to rent it upon down payment+ signing of promissory note

-Seller only transfers title when the buyer finishes paying off the balance.

Thanks!