Need advice on buying through seller carry back

[Ingryd Hernandez]

As a real estate agent in AZ (I live in Chandler), I have quick access to properties that are distressed but not up for sale. I am brand new to BiggerPockets, just started listening over the holidays when a colleague casually mentioned it. Part of my takeaway in listening to the podcast was to find creative ways to bring forward a win win situation for sellers who may be distressed. My hubby and I (he is also an agent, we flipped our previous home) believe our next biggest opportunity is to do a seller carry back. What are some watch outs and advice you have for these types of transactions in obtaining home. My goal would be to flip since my part of Arizona is growing at a larger pace than we can have properties available for sale, making it very much a sellers market.

I plan on sending out letters on a smaller scale but at a regular cadence. I will have more than $20k at my disposal in late March/early April and have a contractor partner willing to do work and getting paid at close since we do not much cash available for flipping. We do have a mortgage on our primary residence, $285k current balance on home worth $430k-$435k and great credit score and would consider a HELOC if there is an advantage to doing it that way. I give this extra context in case it becomes relevant to any follow up. Thanks for your anticipated advice.