I want to brrr, acquiring with a short term rent to own sale cont

[Mark Weldon]

I don't know how else to title this lol. I'm intending to brrr a property and first aquire it by some sort of short term rent to buy option. I would  propose a large down payment (10% range), rent to own option with a 12 month or less guarantee to pay in full (once renovated and refinanced). The down payment would be non-refundable so if I fail to aquire financing in time the earnest money would be forfeited. I don't have the capital to purchase outright and renovate without partnering but, I do believe I could put up the earnest money, rehab enough to refinance and pull enough out to recover my investment and put the finishing touches on the rehab. My question is what forms and process might you take, from approaching the property owner to drafting a contract? Any advice? I have a large rehab budget currently invested in another deal that I will get back in three months for shortages in the rehab or when it comes time to finance I'm just searching for a creative way to pursue this deal.  Any advice, strategy, forms or input would be greatly appreciated!  Best wishes to all.