This is a classic case of seller willing to retire. I was wondering if there are any ideas/suggestions on deal structuring when owners are willing to transition out over 3-5 years. In the interim they are willing to stay and help run the business and hire replacements. Given this backdrop, any best practice(s) suggestions in deal structuring would be welcome.

For starters, how much seller financing/forgivable debt would be ideal/reasonably accepted for such a transition period?
What are the specific non-compete and liability considerations in such transactions to avoid any unforeseen exposure?
Any other considerations to be mindful of?

Thank you and best regards,