Ie. pet ownership.

As far as I am aware the change in ownership has occurred and the deed lodged with the county.

By putting the property in a land trust with the owner as Trustee, the bank or his lender can not call the loan due and at the same time, by you being a beneficial interest in the trust, you have ownership interest in the property (technically, you have interest in the trust that owns the property).Still another way to do it is by you getting an Option to Purchase on the property where the renovation cost is your option fee and to protect yourself, you get a Memorandum of Option recorded.

Also, you may be interested to know that if your CPA/tax professional "groups" your business with the property in the first year of ownership, the building becomes active and the excess paper losses you can generate with cost segregation can be taken against the rental income and your business income.

Most loan docs do contain a "due on sale" clause which basically says if the property ownership changes the bank reserves the right to call the whole note within a specified period of time.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

I was thinking an owner equity deal maybe where the seller "buys" 25% of a new llc and pays the down payment for that percentage of ownership.

Should get an umbrella policy regardless of the ownership structure.  

With direct ownership of real estate, there are inevitably unhappy events - roof or furnace failure, rodent infestation, etc - that will cut into your projected cash flow and sometimes make you negative. 

To me, if you sold it WITH management, that contract now becomes the ownership of the new owner and you shouldn't be any part of it.