Help ! Need strategy for traditional mortgage

[Paolo Ruggieri]

All I am buying a house with the strategy to resell it to the current tenants... Seller needs immediate money, so I am buying it cash for 100... Retail value 140. I understand that tenant could not buy it right away for 140 because mortgage companies would not finance based on 140 because property recently transacted at 100... I thought... What if I buy it for 140 with 40 cash back at closing? Is it ok? In this way I can resell it right away for 40 and the tenant can buy for 140((assuming it appraises for 140) Please let me know your thoughts...