Owner Financing - positives and negatives??

[Craig Montesano]

Hi all

I am new to investing and new to the site. Starting investing August of last year. I have 2 single family homes that are rented out and generating positive cash flow (rent for each house is about double the mortgage payment).

Not sure we can get another mortgage at this time and there are some properties out there that I want to pursue. There may be the possibilty of owner financing. What are the pitfalls of this if any?

Not to sound like a total newb, but this sounds great not having to deal with the banks.

ANy feedback is greatly apprecaited