Owner Financing. How does this work?

[Corey Knight]

Hey guys! I have a question regarding a possible owner finance deal. The deal includes 5 duplexes. I have money down for a few but have talked the owner into financing all 5 for the same down payment. My question is this... If he still owes say 100 grand on the note for all 5 than how can I protect myself from him collecting the money and not paying the note? I am not really sure how this deal would really work?? Any help, questions I should be asking, or advice would be much appreciated. As for quick math each unit rents for 550 a month. Asking price is 89 grand per duplex. Thanks