Owner Finance Deal

[James Messa]

A wholesaler brought me this deal. 

Purchase price is at 80% of ARV of 180,000, it needs very minimal make-ready/repairs for renting so I figured $4000. Cash flow is minimal. But this wholesaler also as a buyer who wants to purchase this property through owner financing. The prospective buyer has 20K cash for down payment and can afford a $1400/mo. note.

When is it a good idea to purchase a property, just to turn around and owner finance it to a buyer?

If  I use hard money to purchase the property with the buyers 20K, and do the minimal repairs required, refinance in less than a month, cash out about 5K. 

So I have to wait for my return on the back end on an agreed upon purchase price in 4 or 5 years, when they will able to finance the property on their own.

Thanks for any advice