Got offered an owner financing deal for rental property - advice?

[Zoe Mercier]

Hello BP friends! We have been offered an owner financed deal to finance a property for a rental that has a concrete block home and a mobile home. Although they are on the same lot, they do have separate addresses. The couple is older and just looking to get out of it. These are in  a rural area and cheap so getting bank financing was impossible (not to mention they won't loan when there is a mobile home involved.) 

Any advice you can offer about things to look out for, be aware of, take into consideration when it comes to being the on the buyer end of owner financing so we can make an informed decision? We haven't done this before and definitely don't want to get screwed. Thanks for any feedback!!

[Pancham G.]

@Zoe Mercier do you have the details on numbers? Without numbers, its very difficult to say whether its a good deal or a bad deal. 

Not all owner financed deals are good.