Maybe think about a legal agreement outlining all these “what ifs.”Overall, it’s not a terrible idea (not something I would likely do as it could go sideways though), especially if you’re confident in the property’s potential.

You can find the deal and work out an agreement with the experienced investor.

Maintain proper records - Contracts, Settlement Statements, Agreements, Promissory Notes etc.Additionally, you can track income and expenses consistently, using software or spreadsheets. 

The title company may just want to see operating agreements of the owning entity and the holding entity? 

Seems to be a lot of moving pieces here but I'll start off with the fact that I would need to know more about the situation to thoroughly advise on what is going on.In a lease purchase agreement, you will not recognize capital gains until the property is actually sold.

We use docusign to send a reservation agreement which essentially makes them sign the house rules. 

Background: Oakland multi-family (4-plex) propertyScenario: Existing tenant would like to add new occupants (2 relatives) to an existing month-to-month agreement. 1) Should we add the new tenants as master tenants or simply as authorized occupants?

However, if you plan to rehab at all, you will then need a licensed contractor to provide bids on each project you plan to rehab.You will then be asked to provide a proof of any funds to close, purchase agreements, and if closing as an LLC - most times documentation on that LLC.Overall, the larger number of units (5+) makes the lending process based more off the property than the borrower, contrary to traditional single family housing.I would recommend you work with a Loan Originator/Broker who will be the medium for you to the lender/s.

Jumping into your existing agreement is a huge savings for them, with no benefit to you.

The alternative is to find a seasoned investor in the location where you plan to invest, work out an agreement with them to bring their money, time, expertise, relational capital, systems, etc. to a deal you bring to them, and let them show you the process from beginning to end.