Everything i have read says to stay away from some of the less desireable areas of the city but i was figuring it cant be as big a nightmare as everyone states.  

Overall, the condo sits in a desirable location.What route do you suggest she take?

A long long time ago I wanted to become an appraiser so I do have some schooling for that just never finished it. passion and desire wasn't up there not like it is now.

This was my initial thought:10% down = $2,300 down paymentAND(1) 10 years @ 6%  = $230/mo OR(2) 8 years @ 5.5% = $267/mo OR(3) 6 years @ 5% = $333/moI wanted to give him some options since there are HOA fees of $840 per year and the longer term/higher interest would allow him to stay at/below his desired monthly expense.Having never been involved in an owner-financed transaction before (selling or buying), I wanted to find out if these terms make sense and what else I need to be aware of. 

It is in a desirable area and also a good potential rental property.

Know/learn the value of the finished product, back out your costs and desired margin, and that will dictate your offering price.

The buyer said they were concerned with cash flow and could put more down so the seller attempted to satisfy their request by giving them their desired rate, but requiring a higher down in return.

I'm a newbie and would love to be able to come down and talk with folks who want to share their experiences, fears, hopes and dreams.Do any currently exist or is there enough of a desire for the LI area to start having them?

@Douglass Belt " start small in the beginning "I totally agreeFor myself: yes, NOI $100 - $150/ door would be worth it.( after monthly capex, repairs, taxes, and etc )I would definitely still desire a mixture: partner investing and individual purchases.

Best wishes to you on your desire to soon become an investor yourself.