Owner financing is a great way to go if your credit needs time to heal or if you are unable to show proof of income for a few years.
If you haven't already talked to a finance person you should because the seller may want you to pay off the loan at some point and you need to know your situation so that you can remedy your profile to buy.
If you have already talked to someone make sure that when owner financing, the owner allows you to make the payments directly to the bank (pay with a check). The reason is because many homeowners are using the money to pay their bills instead of the house you're in. You want to make sure the house is in good standing prior to leasing it and that the mortgage stays current.
If the owner says no, then buyer beware. If the house is free and clear, pay with a check. If you have no credit, ask to put the utilities in your name. This will help build your credit for buying the home. Open a secured credit card with Orchard Visa to rebuild your credit report. There are other companies but make sure they report to all 3 bureaus.