Does the BRRR stratagy still work with owner carry?

[Jessie Saul]

Hi,

I'm looking at 3 single family homes, all owned by the same person. The owner would like to carry the contract. They are all listed individually, but I may consider asking about a package deal once I look at them. So far all I know is the owner would like 10% down 6% interest for 15 year term. Is it still possible to pull the equity out of the home after renovations? Do I just need to be sure there is no prepayment penalty, in order to refinance? Anything else I should be considering?

Thanks