The devil is in the details.   

We have experience purchasing properties through our LLC using lending, where we own 100% of the properties.

Sounds like he will be the "GP" and you as parents will be the "LP".

What are you estimating the value, $450k? 

@Michelle Simoni seller-financing usually only works on sellers with a problem they are motivated to get rid of:1) Been for sale for 120+ days2) Nonperforming property3) Problem tenants4) Deferred maintenance issues5) No equity6) And obviously they want to get rid of the problem MORE than they need their cash out

I was thinking the “contact” it made was a bit more dynamic.

One of the questions is: how many rental property does he own in the area.I got my real license in 2020 and still work with out of state realtors all the time.

On the flip side, I am in the process of acquiring over $1.5M in defaulted DSCR loans form borrowers who are your age that put 25% down but had no money to fix any of the problems  = lost the renters and walked from the property.

No more than 15k was put into the deal to get it market ready from our buyer.

Between the time associated with making the investment, tied up capital and associated stress involved, even if the investment breaks even or produces a small gain most would look back and wish the money sat in their account until a better opportunity presented itself.