It's also very important to know the wants/needs/position of your buying audience.I find that buyers are much more willing to get into a bidding war, and over bid on a property as opposed to paying their buyers agent.

Since you already have significant equity and savings, you’re in a strong position to get started.

If they are in a challenging financial position, I might offer to assist with moving costs.

Was it a positive experience?

My favorite book and the one that got me started was Set For Life by Scott Trench (a Bigger Pockets book).Also, if you are in the position to do so, house hacking is a great way to get started! 

We also made a deal with the second position lender to get some of his invested capital back which would've been completely lost in the foreclosure process.

I am not really in a position to purchase my first property just yet, but I am getting all my financials in order and saving up to hopefully buy something next year.

I purchased a duplex in May of this year and moved into the bottom unit with the intention of renting the top unit as well as the sf I moved out of which would put me in positive cashflow (the top unit of the duplex does not cover the duplex mortgage entirely on its own). 

The second lien also means you’re in a junior position if the buyer defaults, so you’ll want to be aware of that risk too.Overall, owner financing can be a win-win, but it’s important to have everything structured properly to protect your interests.Cheers,William

Comes up positive?