What type of financing is this called? Is it legal?

[Christopher McGuire]

I'm not sure the technical words to do what I want to do but I'm hoping you guys can shed the light (as always).

I want to sell some of my rentals through some kind of owner financing or a rent to own type deal.

What is the best way to structure this? I want to get a down payment and monthly rent for a 5 year period while the tenant is responsible for repairs and maintenance. I know that if it is a "sell" then I would have to foreclose which is an expensive and time intensive endeavor. But I was hoping to structure this and after they finish their payments I can just hand over the deed.

Is this legal? And if it isn't, what is the most profitable way to do this?