Land Contract "Inception"?

[Jarred Ross]

Here's what I'm looking to do, I've been calling it a "land contract on a land contract". I want to buy a property from the seller at $21,000 over 6 years. I want to then find a buyer to take it at $40,000 over 6 years. Guess you could kind of call it a wraparound mortgage? Is there a way to set this up, maybe a specific term to call it? I'm cautious because of the Dodd Frank stuff. I'm not looking to break any laws here.

Reason to do land contract vs just renting it out is the work that it needs. Garage demo'd, roof redone, some plaster work etc. Please let me know your thoughts. Thank you!