You can find us online.Current Ideas: Video Series on Passive Investing in MHC, Tax Benefits of MHC, Investing through 401k etc. 

What are the benefits and drawbacks of buying a seller financed home?

Real estate investing has been a passion of mine for time with my mother also having invested early on where I likely have gotten the love and desire to follow similar foot steps.I have taken last 6 months to educate myself and currently own a single family home as primary residence and would like to expand to multi family properties (2-4 units) for additional stream of income, not to mention potential tax benefits for long-term investing.Based on current living situation, I have a fair amount of equity established in my primary residency along with having enough cash to either pay off house completely or use towards investing in a multi family property.Given that I'm the sole source of income for our household with my wife being the home maker for our two kids under 2, trying to weigh out risks with getting started now or perhaps waiting. 

I live in Portland  Maine , I am new to real estate investing and looking to connect with any local investor.. thank you.

Quote from @Garrett Brown: Hey @Josh Ball , this is basically what I do on the most successful properties I have ever had. www.cameronranchglamping.com It mainly depends on a few things.How close are you to a metro hub/ activities?

When you pay cash for a $400,000 home and rent it out, your rate of return will likely be less than 6%.You could invest in stocks and earn 7% or better.You could put the money in a high-interest savings account and earn up to 5%.I don't understand why anyone would pay cash for real estate, erasing many benefits that increase the rate of return, while exposing themselves to the risk of loss (turnover costs, bad tenants, capex, etc.). 

The owner doesn't really benefit much except for not having to pay a mortgage anymore?

It will familiarize you with the basic terminology and benefits.

This tax base benefit goes away at your father’s death.

We also run numbers to avoid lost money on blindly paying for an appraisal to find out its a dead deal or of no benefit.