These are questions that you really want to present to a good real estate attorney who can advise you in what you are and aren't allowed to do regarding Ohio seller financing.

Hamad,In general it's not advisable to sink money into a property for which you do not have ownership interest.

Any advise would be great.

We wanted to buy this property for the cash flow, not a charity handout.My realtor advise me to think about the decision for a few days as we both want this sale to go smoothly as the seller has had cold feet before.We live out of state but go to the area about once a month to see family.What you do in this situation?

As a longtime out of state investor myself, I would advise to plan on visiting whatever market you are considering investing in, turnkey or otherwise, and meeting with the team or teams you are considering working with in that market, preferably before you close on your first property.  

I'm really excited to start this new chapter in my life...and I'm taking the advise of Brandon and Josh to introduce myself on the forum as well as say thank you for building BP!!!    

What advise can you offer?

It is usually advised to stay within 90% if the list price to be reasonable, unless there some valid reason to offer less and provide substantiation.From my experience, all real estate deals are guided by the personalities, attitudes and emotional attachments to the property.

Y'all might want o hire an attorney,  and/or a CPA, or tax consultant to advise you on which way to go.  

I am not familiar with the area, but would advise to start somewhere that you would be able to sell for a decent profit without having to hold the property for an exorbitant amount of time.