How can I do "Land Arbitrage", when I am financing the property myself?

Creative Financing
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So, I had the opportunity last Monday, to video chat/30 minute consultation with a successful land investor from another land investing group. He sent me a free video course called "Wholetaling", I think.

In the video, it said something about finding a property that is for sale for $99 down, and $99 a month, for example. The person in the video thne brought up "Land Arbitrage", where one could possibly sell it to another person for, say, $299, and $299 a month, for example. But, in the video, it doesn't say how to close on a transaction like this.

I used to have 10 acres of land I was paying on, and at one point a local real estate agent said they new the owner I was buying the land from, and that the owner would be ok with a "wrap-around" mortgage, if I remember right.

So if "Land Arbitrage" is possible to do this way, how would I close on a transaction like this?

Do I contact the seller, to ask permission to be able sell it to someone else, through a wrap-around, or some other creative financing means?

What type of legal document(s) do I need to make?

Years ago I asked an online land seller if I could do a wrap-arround, and they said no, so that squashed my dreams of somehow, finally, getting into real estate.

Oh yes, I would like to do this in state like Nevada, New Mexico, Arizona. Probably somewhere where I can afford to do this, because I am almost livng paycheck to paycheck, but I do have credit, if needed, or could afford a small down payment with cash.

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This sounds interesting, but the more I think about it, it seems riskier, and potentially more expensive, than just buying a property from a motivated seller that I've marketed to myself. I say this because, I'd probably be committing to buying the property at an amount roughly equal to it's fair market value from the previous investor, since they're selling it to me on terms. So if I have a hard time finding a buyer at a higher price, or if my buyer stops paying, I'm on the hook to pay that high price for the property. I'd also most likely need to pay a down payment of a few hundred dollars to maybe low thousand dollar range. Hopefully I'd get that back from whomever I sell to, but again, see concern #1 above.

Even in the best circumstances, assuming the previous investor knows generally what they are doing and the value of the land they're selling, I just can't see getting $299/mo from a subsequent buyer for a property that another investor just sold me for $99/mo, all other things roughly equal in terms of down payments and loan terms. So I just can't see clearing much of a spread every month to justify the risk. On the other hand, if I took the same few hundred to thousand dollars or so, I'd be more confident that I could buy property for 5% to 20% of it's current market value, leaving me plenty more room for error and multiple exit strategies (sell on terms, sell at a discount to a cash buyer, etc.).

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I can see this making some sense with houses, but it seems to be way overcomplicating the situation if we’re just talking about land.

I mean, maybe there’s a unique situation where it might make sense (like a higher end property where the seller expects a much higher price and there’s still a lot of money to be made), but most lots are so cheap anyway, and the sellers we buy from just want their cash now... seems like the deal would have to be pretty special to warrant all the complexities of this.

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way too complicated to make a hundred bucks a month. Just save a little cash and buy a property yourself, and owner finance to someone. FYI I bought one for 500 bucks in FL and sold for 299 down and 99 a month for 36 months. It was one of my first deals.

Much simpler in my opinion.

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