Making over a $140,000 isn't much of a horror story even if it's a "scary house." 

The mortgage would stay under the seller's name.The buyer could then rent out the unit, renovate, etc. to increase cash flow or make more money.But aside from a possible "due on clause" being called by the mortgage company, what's the benefit to the seller?

@Joe Villeneuve around 300K of equity in the houseSell the house, take the equity, spend it or use it on your next house where you are moving to. 

Is this a situation where we (as sellers) would reach out to a wholesaler?

The house is valued at 200k asking price of 150K.

Does anyone have much success buying SFH with seller financing? 

The seller is offering seller financing at 2% interest with a 9-year balloon.

Seller financing can be a fantastic way to get into a 4+ unit property, especially in a competitive market like Chicago.Have you started reaching out to owners directly or networking with agents who specialize in multifamily properties?

Then, I would have sought out seller financing from there.

There’s nothing special about the seller financing terms here IMO, unless you can’t get a conventional loan of course but if that’s the case the balloon payments create a high risk for you and you shouldn’t do it anyway.