When purchasing via a lease option, do you get the seller to sign a option agreement and then record it, and not actually go through the closing process with a title company until you exercise your option years later?

My partners and I have landed our first MASSIVE deal (250+ unit complex) and have started the money raising process..Let me give you a very very quick back story...To make sure you are as attractive as you can be to a prospective passive investor, you need to have a few thing..

They would rather have us (Peers) walking them through the process of buying a home, rather than someone who is a lot older.

If you want the experience of going through the wholesale process.  

You can get tenants to put it in their name, but it is a length process. they need a copy of the bill, a day waiting downtown with the water company paying additional deposit to have it put in their name.

this explains the process    http://www.foreclosurelaw.org/Texas_Foreclosure_La...

@Mike Stephens I only posted this question two weeks ago, so still going through the process.  

What kind of process is this and how feasible is it to do while there are tenants in place?

4) What will be the process of transferring the deed from me to the LLC?

How long did your HUD loan assumption process take to complete?