Owner finance, rehab and flip, but maintain...

[Jarred Aune]

I'm a newbie here so I'm not sure how to find the information regarding my matter but this is the situation I'm about to deal with.  I have a homeowner  that just got their first foreclosure letter  and their house has been for sale for over a year  and I want to owner finance it from them, get the payments caught up with my money and invest my money in the rehab,  and then sell.  But I want to make sure my interests as far as the sales proceeds are retained strictly for me and the seller gets their agreed price only but nothing more than the agreed on. If this makes sense. Is this possible and how?

Thanks,

Jarred