Best practice to structure seller finance deals?

[Alex Bishop]

Hello everyone! 
I have been talking to a local landlord about seller financing me one of his rentals and he seems very interested. I’m just not quite sure the actual process to get the deal done. Should I just have an attorney draft a promissory note, then talk with a local escrow&title company to finish everything, or is there other 3rd parties/legal documents  I need to include in the transaction? Also the landlord suggested me pay him directly but I feel having a 3rd party collect and distribute the payments would be best. Please any information would be appreciated!