Stack Method question for fix/flip deals

— want to make sure I've got this right. I've heard Paul talk about using seller financing instead of a 2nd-position PML on flips, and that it comes out cheaper.

So on a flip where hard money/bridge covers ~90% of purchase + 100% of rehab, is the play to have the seller carry the remaining ~10% in 2nd position rather than the buyer taking a separate (expensive) 2nd-position private money loan? Is "cheaper" basically because a 2nd PML runs high rate + points, while a seller carryback can be deferred/interest-only?

Two mechanics I want to nail down:

Does the transactional funder still front that gap at closing (repaid from the carryback), or does the seller carry replace the need for gap funding entirely?

2.On a flip (short hold, then sell), how does the seller carryback get paid off at resale — and does the short timeline change anything vs. a buy-and-hold Stack?

Trying to explain this correctly to the fix/flip investors I'm talking to. Thanks!

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Stack Method question for fix/flip deals