Often I get asked if I know of any Contract for Deed's or Rent to Owns available in the area. I do come across these type of "financing options" fairly often. However its important to know that the owner/seller in the situation is looking for a situation that will seemingly be a good situation now and in the future.
A seller in these type of deals want 5% down or more. Often 10% is a fair number. The interest rate and payment is normally higher then the average rent in most of the cases as they are looking to cash flow or at least get market rates on it.
Often buyers are looking for a low low payment and have poor credit and no down payment. This just doesn't look attractive for a seller. They need security moving forward with the asset they own.
If you are in a situation where you need to look for a contract for deed and prefer that over renting. Start now to work on your credit a bit. Save bank statements, pay stubs and w-2s just like you were to do with getting a mortgage. Also start saving a down payment. Doing this and presenting documentation to a seller will help them work with you on seller financed options.
Call me if your looking for a Contract For Deed property and I will point you in the right direction!