Seller Financing Potential, Turn it into a Note?

[Jason Huffman]

I found a duplex on Craigslist that I think is ripe for seller financing. Not listed on the MLS yet but will be within the next month is she doesn't sell. Widowed woman, 67, who wants rid of her duplex for the income and less hassle. She doesn't have any plans for the money to need a big lump payment. She would not budge from selling her rental outright instead of a long term seller finance option and a down payment~$5000-$7500. I kindly went over the numbers with her and said if someone got financing from the bank and had to pay 25% down, that there would be hardly any "meat on the bone" from the monthly income someone would charge. I also mentioned the money she would have to pay with using a realtor and the capital gains.

$180,000 selling price with $1500 rents (she thinks), $2050 taxes. Overpriced. Tenant pays everything except for water and sewage, $75/month.  The duplex was completely renovated in a nice suburb of Pittsburgh. Very low cap ex. It's currently vacant.

I mentioned I would pay her around $700 a month for the next 25 or 30 yrs with a down payment. We would make everything legal, through a real estate attorney, the whole 9 yards. She said that would take her up to 97 yrs old and can't wait that long for the money.

My question is... what else could I say so that she is more on board with seller financing and how could this deal be structured?

Also could she sell her note after she proves it is performing? How many cents on the dollar would she normally sell her note for?