Need advice
awhile back I was looking to buy a duplex and that deal fell through due to the seller no longer wanting to sell the property. Yesterday I spoke with my grandfathers friend who wants to sell me his duplex. He wants to do a lease to own and wants 7,000 upfront then I will pay him each month for the next 5 years $22K for a total purchase price of 29K. One side is vacant and needs some work done and the other side is currently rented for $350/mth. I feel this is a good deal, however I have never done the owner financing before and just wanted to know what I should look for to protect myself. He is speaking with his attorney to have the paperwork drawn up but I am obviously going to have my attorney look over it. Any help would be appreciated. Thank you!