Seller Financing from a friend

[Sawyer Kelly]

Hey BP community,

I have a friend that is talking about selling a house he owns free and clear. He's had it for 10+ years and has been renting it out successfully. However, he's tired of dealing with it and wants some cash to buy an airplane. I'm trying to figure out how I could make this a good deal for both of us. If he'd be willing to do seller financing with some sort of down payment, but sell for below market value, then he'd be getting some cash without having to pay the capital gains and I'd get a good deal. I'm sure there are some holes in this logic, but I'm still doing research and figured I'd see what you guys had to say. Thanks for any insight.