Seller Financing for multifamily rental

[Andy Prince]

I am in the middle of researching all of the how to's of seller financing, and would love to hear from someone who has structured a deal like this before. I have a friend that wants to possibly unload a couple of rental properties (both are multifamily). He has already taken cash for one of his rentals. If I structure this deal correctly and present it to him with all of the details checked off, I think we will be both get what we want. Any advice would be much appreciated! Do I write this contract up with a lawyer? Should I present him with more than one option? what are the tax benefits for him? looking to take the first step. Thanks!! -Andy