Appartments, Mobile Home Parks, Commercial properties buying

[Andrew Brockway]

So bare with me, I am not sure how to present this besides how I see it in my daydreams haha so here we go:

I picture that there is a Mobile home park ( for this example) for sale at $1 million 12% cap. Since I have just about 0 experience and $0 I can contribute, I thought about this idea. I would offer to purchase the park but for $100K for the first three years applied directly to the principle; however the seller would stay on to help train me on how to run the park correctly. At the end of the third year, I refinance and pay them 800K so in the end I would be paying $1.1 million for the property.  

I guess my question is; Does this seem feasible? or is it too one sided if so which side? I am just looking for feed back

Thanks, 

AJ