Owner carry mortgages--how do we feel about them?

[Ashley E.]

Hi everyone! My name is Ashley, and I am a relatively new investor. Due to life happenings, I have ended up with less than perfect credit, but a lump of money I may be able to use for investing... It's not quite enough to purchase a house in full, but could put a really nice dent in a payment..

So my question to you, my fellow investors, is how do we feel about temporarily putting part of this towards an owner-financed property, and refinancing it in a year or two when my credit is prettier? Are owner carries EVER a good idea? Anyone with stories they would like to share with a newbie? Any better suggestions until I repair my credit? 

Thanks everyone!