Seller Financing (Pros and Cons)

[Maxim Kats]

Hey everyone,
Fairly new to real estate investing, but recently stumbled on what I perceive as a good deal. Multi Family Property and when inquiring on financing options, seller financing was offered as a possible option on the property. Numbers wise, seller financing would cut closing costs and be negotiated for a better plan that suits me and the seller, including interest rate. What are some pros and cons of taking this approach or anything that I should look out for? Was told rehab would just be a touch up and place is very livable by Agent. Full inspection will be conducted by 2 separate third party inspectors.
Property Details are as follows:
Sale Price: 45,000
Cap Rate: 17%
Down Payment: 25%
Cash on Cash Return: 20%
3 Family property
Cash Flow: $307