Hey guys

I have another investor who possesses a property I wish to buy. This property is in distress so I desire to brrrr it to make my gains. The current investor/ owner would be willing to be paid out at completion of rehab.i would be funding the rehab with finances and sweat equity . Upon completion refi* / pay there asking price at this time, in turn I would become sole owner.

My question is , how could I structure this deal to be protected legally for my investment? Would I have to do a lease option and then act on the option at refi* time? I just want to have a some legal backing to cover my financial investment? Please could some one shed some light on this matter for me?

Ask if he will owner finance and put contingencies in for completion dates with extensions available in case you run into issues.