Feedback on Funding Structure

[Jay Murakami]

HI all, evaluating ways to create more win/win deals.  

Has anyone bought a property with seller financing structuring a 10% down / 60% first / 30% second (or similar) where the seller carries both first and second?  Then refi the first asap and the seller gets most of their funds and carries the second for a longer duration?  Instead of asking seller to carry a 90% first for a longer duration?

Is this possible?  And if so any pitfalls?  

thanks.