Seller financing! How does it work? How can it be structured?

[Nick Bleser]

What are a few ways seller financing can be structured? There is a tri-plex being sold by the owner and am wondering if I could propose seller financing. The property is an older home but is in excellent shape in a great area. I would love to get into this property with little to no money down. 

I'd like to share the details below and if anyone would be willing to use my numbers to show me how it works would be greatly appreciated.

Asking price: $149,900

Taxes: $2,120.67/year

Rents: $1,650/month

Expenses: $750

The asking price is probably too high but as an exercise how could I structure the financing to make both parties happy?

Thanks!!

Nick