Seller Financing and Personal Loan Refi?

[Leslie Sakal]

Hi BP, I tried searching for answers to this question a few different ways and couldn't get a clear answer.

Property is a 3 unit in a great area and I'm going to see if the owner is willing to do seller financing with 0% down, and refinance after 12 months in a conventional loan. If I didn't have my fingers in a different pie right now, I'd be able to afford downpayment on a 203k type loan (I would be living in one of the units), so I need to get creative with this one.

Right now the property is vacant, and it does need quite a bit of work, although it's habitable. I'm wondering if I can take a personal loan out to finance the repairs, while doing the seller-finance option, and then refinance both into one conventional loan after 12 months.

Does this sound feasible, or does it sound like I'm stretching myself too thin?

Thanks.