I'm with Anthony, Carrie and others who say to report it and talk to him. 

I had sellers carry the note for me on many accounts, but raising money to take down a deal is another animal. 

I carry over $1M liability for peace of mind.

Has anyone used delayed financing in combination with a small owner carry, and does it meet the criteria for the six month exception?

(Also closing on my first personal house at the end of the August up in carry illinois.)

In MOST instances, it is a retiree that is selling via owner carry.  

Is there any BP, or any other authors, Seller Financing books that can give me more detail into carrying out this method?

If they list the house in the MLS and are charged 6% real estate fees ($12,000), closing costs ($1,800) and 3 more months carrying costs ($3,000) (the time it takes to sell and close) that amounts to about $17,000 with no certainty of selling.

Another thing that's really annoying with Zillow is they seem to have a problem with properties not bought and sold via MLS.With MLS sold properties they seem to be able to carry most of the information correctly.But with private sale they do not have info on them and if you claim it as your property and edit the details, features, uploaded photos, in about a month or so this information will be erased automatically. 

The main reason you want a new LLC would be because it wouldn't be carrying old liability into this new deal.