Land Contract Sandwich?

[Terry Royce]

I am trying to work out a subjet 2 deal where the balance of the loan is about 50k, the mo. payments are 450(PITI). House needs 10k in work, and will rent for a min. of 1000 a mo. Sec 8 will easily do 1200-1400. The owner is 3 mo behind and with penalites and what not owes about 2500-3000. I am trying to structure the deal.

A investor I work with said that so the end buyer doesnt have to come to the table with as much money structure the deal with 2 land contracts. one between me and the seller, one between me and the buyer. The End Buyer would have to come to the table with about 5k (3k for the bringing payments current, 2k for an upfront fee ) the make my contract with the end buyer whatever I want over the 2k so my contract could be for 600 with the end buyer a mo, and 450 with the seller per mo. So in essence my fee is increased but in the form of a pasive monthly payment of 150.

Thoughts or input on structuring this.