can we simply make a contract to purchase at a discounted price, put the house in the company name and have the agreement state that homeowner and company split profits of the sale?

I have found that true value creation relies on purchasing market value real estate at a discount or injecting value through rehabilitation or repositioning the asset.  

I don't require any discount. 

That being said, I can get the benefits of having discounted loans on a whole half of a percent interest off the market rate should I buy a house.  

The Rent to Owns that the seller has, have been discounted back to their PV based on the streams of the future incomes they would generate.

However, my thought on this is to discount the interest rate to the buyer enough to offset the property tax homestead exemption and maintain this in my name.  

Here is a "cheat sheet"Pretty Houses, no equity -   sub2 -> rent out,  lease 2 own;   wrap -> rent out, lease 2 own  lease option -> assignPretty Houses, 20% equity - list with agent; sub2 and note ->rent out, lease 2 own; wrap -> rent out, lease 2 own; lease option -> assignPretty Houses 20% - 95% equity - list with agent; sub2 and note -> rent out, lease 2 own; wrap -> rent out, lease 2 own; lease option -> assign; lease option and sub lease-sub option, possible equity splitPretty Houses - 100% equity - installment sale, payments to seller substantially less than market rent; Possible 2 Notes, do a partial sale at a discount of front end 60 payments on 1st noteMinor Rehabs - Joint Venture with the Seller (give note for equity, pay off note after resale), JV with Money PartnerMajor Rehabs - Wholesale Contract; JV with Money Partner, Hard Money Lender, Private Lender IRA Loan, Use your IRA Loan@Steve Vaughan may want to add to this.

SC owner occupied property is taxed at 4% and in addition there are several discounts given which makes SC owner occupied property taxes really low.  

If the window is close, you might want to do is listed with a discount brokerage and offer it at 149K. 

Hey everyone just wanted to update you all on the latest, so I am in my 5th month and its going great, a couple weeks ago I met a guy that is rehabilitating a neighborhood in my area and set him up with a capital investor and we are all in business the rehabber has 300+ properties in his inventory to rehab at low to no cost to purchase these properties basically the city approached him to fix the houses in the neighborhood, the city discounts the taxes and leans so he is paying less then bottom dollar for this stuff.I have my second property on contract its a multi fam with great return, still at my full time, I love my job so it will be hard if I ever need to quit but if I don't quit I cant wait to tell my boss to pay me less, who would ever do that!?!?!?!?!