Help Owner sell as Owner Financed,buy note at discount?

[John Baughman]

BP Crew, This is my first question into the forum, so be gentle. I have a seller who is trying to sell her free and clear building for $36k. So far, everyone had been offering "Contract for Deed" which in Illinois is essentially Owner Financing. She needs $30,000 for a personal matter which has about a 90 day timeline. I offered her $20,000 cash and don't want to go much higher. She is waiting for a better offer but needs to get the lump sum soon (90 days). This morning, I dreamed up this scenario: What if I help her sell the house, seller financed, at $36k. $3000 down, 8% interest, 15 years ($315 payments). If everyone is asking for owner carry, let's give it to them. Then I turn around and buy the note from her for $24k. She clears $27,000 (with the $3k down payment.) which I think she'd accept. I get a $33,000 note for $24,000. I suspect the place will be purchased by another rehabber, so I believe there is a good chance the note gets paid off soon. What does this crowd think? And I'm new so.... Smart? Dumb? Go for it? Illegal? Immoral? Unethical? Not possible? What do you all think?