Trying to Finance First Deal, Unsure What Path to Take

[Jacen Lehman]

My partner and I are currently looking into purchasing our first rental property. It is a rental that has had one owner for the past 25+ years. My partner and I are in the early stages of our real estate journey, and as such, have to get creative with how we finance our first few deals. My question is this: would it be worth it to pursue a "subject to" or seller financing deal since we don't have the money to fund a down payment? I would think if the owner has had the property for 25+ years, he could be pretty far into his mortgage if not had it entirely paid off. However, the property has already been listed on the MLS, if only for about 24 hours. Would it even be worth it at this point to pursue a seller financing deal? Or would I have better luck looking for a private lender to finance the down payment? Here is a link for the property itself: https://www.realtor.com/realestateandhomes-detail/309-N-4th-St_Decatur_IN_46733_M34729-76412#photo0 Apologies for not having an analysis report to accompany this question. I have used my five calc uses already and for some reason the site won't let me upgrade to pro right now. Thanks in advance for your feedback and taking the time to read my wall of text. Feel free to ask me any more questions if you think I didn't give enough of an explanation or provide enough info. Still learning the ropes here, so forgive my ignorance if I left out any pertinent details.