Owner Finance a deal and then owner finance it to someone else?

[Jake Lemke]

Hello, I am a very active wholesaler and realtor out of the greater Seattle area, but new to the subject of owner financing. I have a deal I know I can't wholesale, but I have already got the seller to agree to owner financing or a lease option. I want to owner finance the home from him and then owner finance my interest to someone else (Pretty much executing a wrap). 

I am not sure if this is a possible way to structure a deal, but the numbers make sense. Here is the example

My Purchase: $270,000 owner financed (Home is worth about $330,000)

4% Interest only on 5 year baloon with option to cash out at anytime. = $10,800 / 12 = $900/month

Home Insurance = $2,100 / 12 = $175/month

Property Taxes= $3,700 / 12 = $308.33

= $900/Month + $308.33 + $175 = $1,383 / Month for ME

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Now here's how I would sell it:

Sale Price: $325,000 seller financed with 10% Down

$325,000 - $32,500 = $292,500 Remaining balance

$292,500 financed at 5% Interest on 2 year balloon amortized over 30 yrs + option to cash out at anytime

Principal = $9,750 / 12 = $812.50 / month

Interest = $14,625 / 12 = $1,218.75 / month

Taxes = $308.33 / month

Insurance = $175/ month

NEW OWNERS TOTAL = $2,514.58 / month

My total = $1,383

Cash Flow = $1,131.58 / month + $32,500 upfront profit from down payment + Difference between my sales price and remainder purchase price from the new buyer at the end of their balloon.

IS THIS POSSIBLE?