Is not a new construction, rather making it a liveable place, so I could rent it later on to at least cut my mortgage payment in half and be able to focus on other investments. 

If there is a leak, the first thing that should be done is to cut a hole in the drywall or plywood to get the wet materials out. 

Hi,I'm new to seller financing but am looking to get advice from someone who has done it before and has a clear-cut process.

Many times…..Based on nearly 40 years as an active broker…Investor friendly agent means “agent who will cut their commission rate

That gives a window of time (between the moment you make potential buyer aware, get his commitment/interest to buy and sign a contract with seller), for investor and seller to get together, exchange RE for cash and close the deal by cutting you out of it.

It can be harder for people to come up with though... so it can cut both ways.As for rental rate - try going to rentometer.com and put in your rental address and see what it tells you it thinks the rent should be.  

@John Clark here is a good article of what is happening in the Tampa Market https://www.floridarealtors.org/news-media/news-articles/2024/06/sellers-cutting-prices-these-florida-cities?

Why do people like to go that route does it cut down on capital gains?

Obviously cutting into profit.

Passive investors need to dig deeper to cut through this.