Purchasing for purpose of renting to own?

[Danny J.]

An agent from an area I'm looking at reached out to me saying theres someone looking to rent to own a property and she asked if I'm open to it. The person is apparently looking to spend about 50-60k total but can only afford about 3k down. The person is willing to put that down then pay it all off in about 5 years.  The agent said I'd probably be able to make around 10k or so. In other words, I'll buy the house for 40-50k and that person will pay the 50-60k within those 5 years. 

Now the problem is I don't have a property there but am looking. The agent knows this. Anyone have any experience in this? Is this worth it? Can it be a scam of sorts?  Any advice or suggestions? Or should I just totally avoid it? 

Thank you