Beginner questions about Owner Financing

[Matt SF]

Hey everyone, first time poster here.

I'm interested in putting some money to work in one or two modest properties just to get my feet wet. I plan on starting a new LLC to do this.

However, I've read about a 2 dozen articles on owner financing, and found the process so intriguing that I may pursue owner financing over conventional financing. Only problem is, I have a questions that need some clearing up.

1) Are there clear benefits to conventional financing over owner financing if you have 720+ credit?

2) How does owner financing affect your individual credit report? Does it even show up, or it is entirely dependent on the seller's whims?

3) If I pursue the owner financing route, what questions & qualifiers should I expect from the seller? (What do you require?)

4) If selling to an inexperienced investor with a new LLC, what type of financial metrics are you looking for? (Cash flow, cash reserves, DTI, etc.)

As you can see, I'm just trying to get my head wrapped around the entire process and hoping to avoid stepping on any landmines. Thanks again.

- Matt