This property is listed as investor special, being sold as is. This means the seller will not make any repairs to the home.
If you are a first time buyer, you should be aware this property most likely will not qualify for either FHA (Federal Housing Authority) or a VA (Veteran's Administration) loan. It appears it would qualify for conventional financing, which would most likely require 20% down and finacing the remaining 80%.
The flexible financing terms seems to refer to the seller considering holding a mortgage - which could be a banefit to you; if the interest rate and terms were agreeable to all involved.
Good luck - if I can help further, please feel free to contact me.
Prudential Network Realty