Wanting to learn more on owner financing

[John Hovanec]

Hello BP, I am looking to buy a property from an individual and have her owner finance it to me. She is open to the possibility of it and I’m wanting to know as much about it as possible. Help me out with some of the insights that makes it more of an Incentive for the seller. Do the only claim the monthly payments as income? This will be my first owner financing deal so anything is helpful. Thanks. 

[Ned Carey]

@John Hovanec my understanding is that, if structured correctly, she will only pay tax on the money as she receives it. (Please confirm with a CPA) 

Talk about it is terms that benefit her. "Won't it be nice to know you will have a  monthly check coming in for the next X  number years?"   "You won't have to worry about how to invest a big chunk of money."  "The interest you get is an investment. That investment becomes safer as I pay down over time and the house appreciates over time"