Seller Financing Logistics

[Tom Sproul]

Hello BP!  I am considering purchasing a rental property from a family member using seller financing.  My question is what kind of logistical pieces do I need to be aware of before diving in?  Any recommendations on software?  Can this be handled with a simple contract?  Do we need to involve lawyers, accountants, or loan servicing folks?

My goal is to keep it as simple as possible, I just want to stay out of trouble with the IRS or any other lawman.