A co-worker of mine owns a single family rental property that is currently occupied with a long term tenant. He is open to the idea of Seller Financing. I have a general idea regarding pros and cons but would love insight into the actual process and steps that I need to take to pursue this type of deal.

Resources regarding drawing up terms and contract offer?

How do you analyze whether it is actually a good deal for you as a buyer?

Any help would be greatly appreciated. Thanks!