Selling a rental in Louisiana please analyze

[Jason May]

I am currently selling a house that needs some work (10K siding replacement) and updating but is still rentable. It is a house that would list for 250k after updating (2300 sq ft 4/2) but the layout is poor.

I currently owe 128k on the house and someone offered to take my note +10K +400/month for 100 months.

Does anyone have any experience with these type of deals if so what interest and paper work do you use for the transaction?