It's possible with a longer time on market, they may be open to a lower price.2) being sold by owner - may be more opportunity here. price may be over/under market value.3) foreclosure - bank is motivated to sell. may be willing to sell under value especially in a slow area.based on this, it seems like best bet would be to pursue houses sold by owner, foreclosures, and listings that have been on market for a while. there also is a whole other approach of finding motivated sellers - drive bys, bandit signs, etc. 

Some of that learning is just getting up to speed on investor basics, but other bits of knowledge may be less well known or obvious.

Needs a kitchen added plus some flooring, paint and basic rehab to make it rent-able. 

With a short sale, the basic explanation of the process is that the homeowner contacts their lender and the lender reviews the homeowner’s specific situation (financials, hardship and reason they are seeking to sell the property, etc.).

Basically I’m just trying to understand the deeper aspects of seller financing in general and how to structure those types of offers. 

I am looking to invest basically anywhere the US but primarily in less expensive areas that still attract decent renters, which im sure most people are.

its great upside potential to buy under rented apartments. basically it is "profit left on the table" for you. that's if you can buy it on actual of course.for starters I check the rents on Rentometer and apartments.com , then i run it via my property manager juts to get a second opinion on the specific area.

I would basically consider it room and board. 

Giving someone a 30 day notice is basically worthless if I still have to pay the $500 to evict per state laws.

They do make good suggestions and give insight though on how to drive your score higher.