Negotiating seller financing... Rules and Regulations?

[Roger P.]

Hey BP,

Perhaps this varies by state (I'm in Ohio), but if I have a deal made and the seller is willing to offer financing, are there any rules and regulations for the buyer that differ significantly from conventional mortgage loans?  Are the terms generally open to negotiation between buyer and seller such as interest rate, terms, conditions, etc. and are there any rules the government butts in with this process?  Would banks frown upon me getting the 25% down payment for a property via seller financing, and then the other 75% of the financing through a standard 30yr note with the bank?  Any smaller community banks credit unions get involved much with little to nothing-down multi-family property loans?

Thanks,

Roger