Owner suggested seller financing..not sure what to do.

[Trevor S Foster]

So I've been in real estate for 2 years & I've done 4 wholesale deals.

This is the first time I've come across an owner willing to do a seller financing deal. I've read all about it and listened to podcast on it but now that its an actually possibility I don't know what to do.

Property is in Washington DC, fully paid off. 

Comps show an ARV of 750-790.

The owner wants to get $430,000

The basement has its own entrance and can be turned into a separate unit from the upstairs.

I'm not to sure on how I would structure this deal, so any insight would be greatly appreciated. 

I would like to fix the property up, rent it out and refinance in 3-6 months so I can buy more rental units.