My goals are to avoid any common pitfalls with not being local to my properties as well as to maximize my financial opportunities with this strategy.Thank you all in advance for reading and responding to my post. 

Brandon, I haven't a clue what common owner financing terms are.

Here wood windows ,   which are common in  a house this age are an issue because painted friction surfaces fail the lead inspection for rentals. 

Far to common occurrence unfortunately in low value homes and those renter demographics.

First deal for me and would like to get some common advice to see if this deal works>Owner Financing DealBuy Hold and Rent ;-)Property Value Estimation: $130,000Asking:  $125,000Down Payment:  $25,000 (20%)Interest Rate:  5%Loan Term:  25 years (No Balloon)Rental Estimation:  $1,000.00No Repairs needed what so every (very clean actually)Thoughts would be welcomedThanks in advance!

Recently it sold, price unknown.Rent-o-meter estimates $638 – $837 If I were to buy & hold this property I would make it section 8 ready.Tax assessor says it sold for $143 in 2002 then $192,750 in 2004 to the current owners.Record Deeds Info / aka Red Flags:'05 Well Fargo Mortgage 207k'05 Mortgage Discharge Mers Inc (3x)06 Lien Municipal (City) 2.6k due06 Wells Fargo Mortgage 228k till 11/203606 Wells Fargo 207k Released08 US Bank National Assignment'11 Intent to Foreclose (03/25/11 Auction Cancelled)'11 228k US Bank National Citigroup Mortgage Loan(Common sense is telling me they refi-ed about 30k a year after buying & I'm thinking in 3 years they couldn't have paid their mortgage down from 228 to 44k) but my real estate knowledge is limited.

Hopefully you dont have LP siding since I've seen it commonly get water logged and start to split at the seams.

The only thing everyone has in common is real estate from their everyone niche, business strategy and goal is as diverse as the number of people here.

He could contact the owner, and say he is considering a TIm Hortons and would like to interview him-this is a common practice and always done (if they are expanding which they may or not be) -however, as @Joel Owens  said the best place to start is corporate and discuss resales with them to see if any possibility exists.

The only thing everyone has in common is real estate from their everyone niche, business strategy and goal is as diverse as the number of people here.