Owner finance, no interest, owned outright, large down payment

[Lee Cozart]

We are in the process of purchasing a home from a friend. We are putting down $75,000.00 of a $300,000 asking price. We will be paying $1,100.00 a month until the home is paid off. I'm looking for what needs to happen to make this safe (and legal) for everyone involved. This is our first time purchasing and everything about it is different than the other articles I have been reading until I found bigger pockets. I would greatly appreciate guidance!