Owner finance, Double closing

[investinAK]

Quick question--ok not really.
Suppose I find a house for sale. The owner will finance it with 5% down. I don't have the cash to put down. Could I offer to buy the house, with 5% down and owner finance (at discounted price) and no due on sale clause, turn around and find a buyer for FMV (or close), offer owner finance for 10% down, and do a double closing, so that the down payment from my buyer will cover the down payment to the seller? I hope this makes sense. Just an idea that ran through my head. :SM003:

[Aldo]

That kind of deal is done often, but usually by investors that have been around the block a few times. The short version of your question, if I got it right, is that you want to buy an underpriced property with nothing down and sell it on the same day at a profit without using any of your own money. It's not easy, but it can be done. I'm thinking that JohnMichael may see this and offer some sage advice.

[investinAK]

Essesntially yes, that is what I would like to do Aldo. I know that I could do it if the buyer paid cash for it, my main concern is whether it can be done with Owner Finance between myself and the seller, and the myself and MY buyer.