Question About Offering a Re-Fi

[Jason Merchey]

I am planning to provide a loan on a house that a local wholesaler/flipper/landlord has free and clear - he wants money to pursue another deal with the cash. He pays a percentage in interest for four years. Any questions or advice in this regard is welcome... but my main question is, Is there a definitive way to know if he has lease purchased it to the tenant he has living there now? Could I ask to see the lease, for example? Or is that something that can not truly be ascertained?
My goal would be to not get caught where the tenant does qualify for a traditional mortgage and has the legal right to buy it and therefore, he sells it to him and pays me off. I guess I could put in a pre-payment penalty fee in the note....