Originating a note on a free-and-clear property and selling that note

[Jerry Kisasonak]

I recently heard an investor very briefly talk about the strategy of creating a note on a free and clear property and selling that note. I have free and clear properties and wondered if I could originate a note and sell the note to pull equity out of the property(s) without actually refinancing or selling. Does anyone have experience with this strategy? What are the pros and cons?