It's technically not seller financing, which means you have 100% equity.

Technically, the developer doesn't need a license to pull permits, but the builders who they hire to do the construction do need a Builders License.  

I do have a Commercial Fix and Flip Program that will provide cash for the acquisition and to Rehab the property.Once it's stabilize we can secure Permanent Financing and take out the bridge loan.Multifamily has, by far, the most interest in CRE Financing world, if it's a good enough deal we can get you the financing but I refuse to make bogus promises about what is and is not possible.If you DO NOT have the cash to put down on the property there a few creative financing avenues which may be possible if you have a motivated seller that is willing to work with you on terms.The 68% occupied property would be most fit for creative financing because there is clearly something going on there with the current owner.You can look at a master lease with an option to buy or doing a wrap combined with a seller second... the only thing is that the seller is highly unlikely to accept those scenarios.Now... there is one "highly unlikely to happen" scenario where you could technically get 100% financing but, again, the seller would have to be out of his mind to say yes.It entails a Hard Money FIRST MORTGAGE of less than 50% of the "Quick Sale" value as determine by a BPO... this would serve as your down payment.

So we did live in it for 71 days last year before moving from the state, so it was technically only available for rent for 294 days...and out of those days it actually had renters for 151 days.

The technical permissibility of the transfer aside, as others have stated, it pretty worthless to you in the context you described. 

Seems very technical and complicated.

Assigning the contract and selling the house is technically the same thing.

There are lots more rules and the process is very technical and unyielding.Consider AB-175 which clarified SB-1079 and significantly tightened it.Call the trustee that represents the lender and ask them what they require.

Please keep this in mind and confirm the investment is still sound since, technically, you'll be responsible for utilities.

there is not a lender that i know of that would lend any kind of HELOC or mortgage if you are not technically the owner of the property.