Goal is to owner finance, and re invest equity, buy more homes, offer a wrap mortgage

[Danny Goldman]

My goal is to purchase properties for cash (have 2 under contract currently), repair them, offer them for sale owner finance with 10 to 20% down. I can hold until I find the right buyer. My goal is to put someone not qualified for a traditional mortgage into my home at a higher rate of around 9.99% (wrap mortgage, seller carry, seller financings, owner financing, whatever you call it). I want to be the bank.

Home 1:

70k acquisition, will need about $4k remodel, I plan to sell for 105k and request for 10-20 down. I feel confident the home will appraise based on market in my area. I plan to do a DOT, or whatever you call it and offer seller financing.

I need a bank that will allow me to cashout my equity based on fully completed ARV which I am hoping will be 105k.

My question is are the institutions that will allow me to refinance up to 70 to 80% ARV (rate between 5-7%) out with not much hassle (strong personal financials) and allow me to re use my equity to buy more homes? In the end I want very little skin in the game, and want to build up a large portfolio of homes. What is this strategy called? Any articles that can point me in the right direction would be helpful as this entire site has so many articles.

I am simply using cash to buy my homes, want to cashout 70-80 on full ARV, and allow a bank that does not have a due on sale clause to allow me to owner finance to my qualified buyers. I will carry risk if buyer defaults on payments. Thanks for your help.