Renting a home to the owners who provided seller financing

[Grace Park]

I can't quite wrap my mind around how to ask this question. I tried googling, but couldn't get the right search for what I was looking for. Then I realized I should ask all the experts in the BP community, so here it goes!

I'm wondering if anyone has ever purchased a rental property via seller/owner financing then rented the home back to the sellers as they'd wished to stay as tenants. So I would be paying them a monthly mortgage per our seller financing terms, and they would be paying me monthly rent. 

Have you come across this situation or heard of someone who worked this out? What are the pros/cons or questions I should be asking? Any legal/tax implications from this type of deal?

Looking forward to reading what everyone thinks!