Owner Financing Scenario

[Bryan Elam]

I am currently in short term rental at my new duty station and a colleague owns the house I am staying in. She is really motivated to sell but is connected with a realtor already and the numbers don't work out for me in a buy and hold scenario so I cant offer to buy the house thru traditional channels.

My question is, would owner financing be an option for me over the next three years where I can continue to live in the house and pay down the ultimate purchase price and refinance at the end of my tour so I could keep the house long term as a buy and hold type rental where the numbers work out for me. Is this scenario realistic? If so, how would I approach her, with an offer?