This is more typical in the commercial loan world I'm in.

I recommend using an experienced agent to help you buy especially off-market deals to help avoid costly mistakes.  

or would this be your first deal?

This shouldn't be your target as a newbie. 

Does the LLC hold other assets/interest or just this house?     

A lot of people come to this area for the mountains.

I did find a gutted house for $27k I think I can use this for a house hack and off load some of my maintenance expense for one of my Subcontractors who wants to come to Georgia to retire.

Besides the benefit of the forms, I do not think the money is well spent) or MLS membership (approximate $190/quarter, which is useful investment)- Brokerage has no trust fund/escrow account.  

That is why owner financing is very attractive and favorable in this case for me as the seller.

Their SDIRA company has agreed to do this... so long as the divorce decree spells out this requirement explicitly.