What are your thoughts on seller financing?

[Demetrius Walker]

My wife, son and I currently live in a duplex that we rent. We've been living here for just under 4 months, and we'd like to buy the whole thing at some point - its a nice place. 2 months ago, I started the conversation with my landlord, asking if she would be willing to sell the property or potentially even mentor us. She needed time to think, so out of respect I gave her space. When we revisit the conversation I'd like to have options to present outside of what's traditional: seller financing and rent-to-own.

Those of you with experience with either of these, what are your thoughts? Pros and cons. Thanks!