How do I approach someone about seller financing ?

[Scott Raynor]

The owner of my mother’s condo has expressed interest in selling to my sister and I. It’s in a vacation area on the east end of Long Island and I believe we can use it as a short term rental.

He has no mortgage on the property and I am closing on my first investment property this Thursday so I’m thinking seller financing is the way to go.

I’m looking for advice on how to structure a deal with the owner that will be appealing to him and a win for me.

Are there certain things I should consider when approaching the owner?