Seller Financing OR Option to Purchase- HELP!

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Hi Everyone,

I'm not an expert on creative financing deals, so I'm reaching out to those who are.

I have a seller who is older, does not want to deal with kicking out his tenant, fixing up and selling his condo. (The perfect scenario for my typical all cash offers, as long as we can agree on price.) He also doesn't need the money immediately. At first I offered my typical low, all cash offer. He wants a little more, and I cant make money off it at the price he wants (since its not my cash, I am using hard money.)

So I asked if he would consider carrying the loan for me and that I might be able to pay more as long as theres no interest. Basically like a partnership. He lets me fix up his condo, list it and sell it, and I get whatever we agree upon now. I think this is called an Option, or is it seller financing with 0 interest?

So how do people make deals like this work? What kind of documents/contracts would I use? Should I even do it? I go to REI club meetings where they talk about seller financing all the time, but I have no clue how to move forward. And how do I protect myself from the seller going out from under me and selling the property after I spent money rehabbing the place??

Thank you to anyone who can help guide me a little!