Owner Finance Income vs Rental Income

[Kesha Hamilton]

Hello,

I am in the process of acquiring more property for passive cashflow. The more I think about it, I am leaning towards doing owner financing instead of a rental because it may be more beneficial, but want to be more insight on anything I may be overlooking. With owner financing, I wouldn't have to worry about property maintenance, the income would be more stable because I'd be dealing with an "owner" as opposed to a renter ie less turnover, I don't have to keep up with taxes & insurance, etc.  Overall, it just seems like a more stable strategy with less headache. 

Are there any downsides I may be overlooking? I know one is not being able to take advantage appreciation of the property and loss of equity. 

And for those of you who do owner financing, are you the point of contact should the owner need to contact you? What are some systems you have in place for payment collection, correspondence, admin, etc?