Seller finance with underlying land contract.

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Hi, everybody, new to BP. 

I came across a questionable deal recently, an investor provides a low percent down payment for his portfolio. and these properties already under land contracts between him and the lender. So he want to mirror our payment to his.  

So land contracts with underlying land contracts.

In addition the seller actually is a management team, so provide rental management for the portfolio. Based on calculation, I am able to cover my payments by rentals. 

Do you think this is practical deal?

Thanks.