@Iris OrtizMy eperience in writing up owner finance offers is from a Realtor's point of view (i am a realtor /investor).  

So the presentation is about to start and I decide to write notes on his selling techniques( I was really into human behavior at the time especially after watching Lie To Me). so He's going on and on and I note how he's making the crowd comfortable and making them like him with his sense of humor and such (I later Found it's called "building rapport") and I also notice on how he plays on some of the older's crowds sense of regret of not working harder when they were younger to build a better life.

Call, write and if feasible go there in person.

Been skipping between podcasts, posts, and write-ups by many members. 

Make a reasonable assumption about the rehab required, write a contract with a reasonable inspection period and make an offer.

This will help force you to write down all of the costs (including capex, maintenance, vacancy, taxes, etc) to help you think through some things you may be overlooking.http://www.biggerpockets.com/buy-and-hold-calculatorWith regards to the wood paneling you have a few options with the walls (I would leave the ceiling).  

I've also seen several of the articles that that @Brandon Turner writes for entrepreneur.com.

The only reason that direct MLS access could make sense for me is that I could probably write some software to flag deals automatically based on some algorithms that I could come up with (such as 1% rule, 50% rule, discount to AVM value etc.)

Get everything in writing.

I will write him a new check, print up a new list of deductions, give him his stuff but not until he signs the Right to Release of Possession I drafted up.