is this scenario considered seller financing?

[John Michael Rico]

Hey guys! I just want to ask if this scenario is possible. Let's say I want to purchase an off market property. I will tell the owner that I am willing to take over all the expenses of the property (mortgage, insurance, tax) for a year. By that period I will rehab, rent and refinance the property. After that I will pay him/her the purchase price that we agreed upon. Is this also seller financing? (brrr, los angeles, multifamily, seller financing)

[Manolo D.]

What if you're close to finish rehabbing and they say deal is off? How can you refinance a property you don't own? What keeps them from keeping all the money? What's their incentive for doing a deal without moneu up front? Or what if you collect a year's rent and never pay mortgage, taxes, or utilities?