BRRRRing on Owner finance?

[Ivan Mares]

If I had a seller who was willing to do owner finance and sign over a warranty deed and then tie it to a promissory note, could I then go to the bank and do a cash out refi to pay off the promissory note and maybe pull out some cash? Are there any issues in this process or possibility any tips? The reason behind doing it this way is due to lack of hard money lender access, but if this would work, I could get my down payment back and reinvest it, correct?