I have an idea to acquire houses for a primarily fix/flip strategy and I want to know if it is Viable.

I go in search of a homeowner who is at risk of foreclosure or just behind on their payments. I tell them that I will pay the overdue amount, all future mortgage payments and a few thousand extra for a place to rent in exchange for them signing over the title to me. I will then fix the property up with the intent to sell it. 

I will of course have to explain to them that the mortgage will still be in their name until it gets paid off by me or the bank has cause to demand full payment early. I also assume that if I don’t pay the bank can still take the property from me.

Now, will this work sense I am assuming the title and not the mortgage? I want to know the viability before I get too far in the planning process.