If it is still occupied then you will have to evict them and you are fully vulnerable to whatever they do in the house before they move out.

OWNERSHIP:All three parties shall be listed on the property deed from the inception of this partnership.IN WITNESS WHEREOF, the Parties hereto have executed this Real Estate Partnership Agreement as of the effective date first above written.

The BRRRR strategy is one of those things that honestly sounds amazing, but is hard to execute.

If the property was vacant, you could possibly get a lease option to purchase locked in, get your permitting ready while 'renting' and then once close to ready, execute the option, but it sounds like that might not be feasible if the property has a tenant. 

If i did not have to pay the transfer tax i would have already executed the transfer.  

In CRE, the financing is executed by private party with only 5 years baloon payment, the private part of the financier alsouses the money from investor, so yo could literally, invest from both side (this has nothing to do with your original question).- So in reality, the residential equity ownership is always better because you owned the asset directly and your counterparty is goverment, this is not the same with CRE.- Also because of the structure of LP/GP ownership, this is always true: the return/risk is always favour the GP side, even if investment is collapsed they still make money from the split,acquisition fee, waterfall etc,etc.

One thing to consider is the combined experience of the executive team.

Now I need help executing the transaction.

When executed correctly and repeatedly, house hacking can be very lucrative, and there are multi-millionaires who built their fortunes on repetitive house hacking!

In the purchase contract it clearly indicated that no new leases should be executed without my (the buyer) written approval.