Help with how to do Owner Financing

[Lane Babin]

My business partner and I are looking at purchasing two houses from an experienced investor that is downsizing his portfolio as he now has some health issues. He is willing to explore the route of owner financing with us as he sees the benefits of making additional money from the mortgage interest. How is this usually setup? Is there a third party company that is utilized to oversee the payments for documentation? Can someone assist with example documents/contracts that are used for this?

Thanks,