Structuring seller financing for a family member?

[Dennis O'Loughlin]

Hi everyone!  We are wanting to help one of our kids get into their first house but they have a couple of road blocks, no credit to speak of so far and all of their savings for a down payment was taken up by some hefty medical bills.

We are thinking of finding a house, buying it, and then renting it out to them for a year or 2 and then applying what they've paid in rent as their down payment so we can offer them seller financing.  Obviously we have to make sure their rent would cover our mortgage on the property but if we provide seller financing does that then count as a sale?  If it did then the bank could see that as a sale and require the loan to be paid off immediately.  

Has anyone else dealt with this?  Does anyone have any suggestions for how to work with this type of situation?  

Thanks for the help.