Rent to Own as an investor

[Daniel Kern]

I have an off-market property under contract that needs repairs. Is it better to create a rent to own contract with the seller while home is renovated (at cost of his PITI and no down payment) so I can renovate the house and get a tenant in, then buy home and payoff his mortgage once stabilized? I wouldn't need down payment initially, use funds to renovate, rent home, use cash flow towards down payment when I close the rent to own contract? What am I missing? Seems like I have the opportunity to own the home (with title) renovate it then collect cash flow, and refinance property at a later date. Weird BRRRR scenario