Get a bank mortgage or finance through seller?

[Anne Laurenzi]

I am about to buy a house for $64K (northwest FL) to use as a rental. Long story short, the owner died and her sister wants to get rid of the house. It's in good shape and will easily rent for 800-900. I was going to offer maybe 5% down but  not sure on the interest rate (suggestions?)

I'm debating if I should get a traditional mortgage or see if the owner will finance. I know most of the pros and cons of both but I'm not sure which would be better. If I can get seller financing, why would I consider a regular bank mortgage? I know seller financing is usually used so the buyer can take a few years to build up their credit but I easily qualify for a mortgage so that's not a problem. Do investors use it more so they don't have to use as much of their own money? Any advice?

Thanks, 
Mike