Could this deal work? Is it worth it?

[Glenn G.]

I have a Seller who is willing to do Sub 2, Contract for Deed or a Lease Option to get out from under payment. Seller wants to retire and leave the area. He boght the house 5 years ago for $190k and it's now worth $150K. His mortgage balance is $150k. His payment is $1100 month and it would rent for $1100 per month. Sooo....no spread at all. I was thinking of structuring owner financing and pass on same to a Buyer, collecting a down payment in between. Any thoughts are appreciated.