Selling and offering 100% Owner Financing?

[Bill Williams]

I am mid rehab on a property but decided to see what the market will bear and posted it for sale on Craigslist as is.  I purchased this property with a loan from a private lender with very favorable terms.   The original goal was to rehab, appraise, and replace the private lender with a conventional loan.

If I were to sell, I could initially offer 100% O.F. for about 6 months, then I would need to get enough cash (call that amount 150K) out to pay back my private lender.  I could then carry a note on the remainder (also about 150k).  

My questions-  How would I set those terms up such  that they are legally enforceable?  I'm assuming a real estate attorney? What is my recourse if the buyer were to default?  I still hold the deed and as such, could evict them, correct?  Is evicting a buyer any different/more expensive than evicting a problem tenant?  If the buyer defaults,  gets evicted,  do they sacrifice all their existing equity?    What else should i be aware of?

Best.

Bill