Paying above market value for a Owner Financed Property!!

[Mike Nelson]

I heard that it's possible to pay well above market value for a property if you could get owner financing on the property. How would you evaluate these deals. The example that I came across recently was that a guy owner financed a deal where he paid the seller 100k more than the market value. The loan was 0% intrest $0 down (I think) and it was a straight principle loan with a 10yr ballon amortized over 40 years. I think this was a triplex and he was paying a small mortgage payment and using the rental income to pay down the loan quicker. My question is, what do you guys think about this? And if you agree with it how would you evaluate this deal.