short sales flips with owner financing?

[Brian Wall]

For all you cash flow gurus out there....

In the context of doing a short sale flip....

I have the cash to buy one or two short sales, at a decent discount 65-70% of market value.

I was thinking that I would offer the property for sale, using owner financing (after fixing up a little), doing an 80-10-10 structure, and following all other suggestions, described here: http://www.biggerpockets.com/blogs/241 (thanks Mark!)

What is the realistic price that I could get for the 80% 1st?

My thinking is that if I buy for 65-70%, I could sell the 80% first, and at least recover my initial investment, then take the 10% cash downpayment as profit, as well as, the 10% second, and just hang on to the 2nd, as a small stream of income.

Assuming I following the recommendations described above, is it realistic for me to think I could get back my original investment from selling the 1st? I would prefer to do this in escrow (selling to end buyer) or shortly thereafter.

Any advice or other suggestions would be appreciated.