Buying a property with owner financing?

[Account Closed]

Someone was trying to explain a strategy to me today that involved owner financing. Basically, you buy at a deep discount, but the seller does owner financing for you, then you turn around and sell near retail value (maybe after some extra work/money to fixup), also using owner financing. It goes something like this.

You purchase property valued at 100K for amount owed, say 55K, which you put 5K down and the seller finances the rest.

Then, you find a buyer to purchase at, say 92K, which also offers 5K down, and you owner finance the rest. Now you have paid off the 5K down you initially put on the deal, but also have cash flow, equity, etc.

So this sounded interesting. However, as with most people selling their homes, wont most homeowners balk at an idea like this? What is the incentive for the seller?