Florida Properties Owner Financing

[Peter Mark]

I am running into many FSBO properties free and clear with no mortgage and these are 2nd homes too either vacant or seasonal rentals. Owners are from Canada and NY.

I am trying to put together owner financing deals but owners simply will not carry paper. My question is I know there is a secondary market for mortgage notes. If I approach owners here who do not want to carry paper but ask them to create a mortgage note which note buyers would buy for 50% LTV upon closing or shortly thereafter. Is this a good idea and if so who would come in 1st position?