Can buy cheap, wanna lease option after someone elses name

So, I do short sales.

In the process I come across people that want to stay in their homes. For this scenario we will make a few assumptions:

  1. A short sale is their only option (repayment plan is denied by bank)
  2. I can purchase the property 70-80% of market value through a short sale
  3. They NOW have steady income
  4. Homeowner wants to do a lease option…until credit is good enough to repurchase

Question is:
How do I go about getting financing on this property in someone else’s name?

Obviously I would like to be able to make this a cash flow property as well as be able to sell it to them in the future.

Should I just wholesale it for some quick cash and let someone else deal with it?
Should I partner with someone?
Are there people that will finance homes for short periods of time?
Where are they? How do I find them? How do they like to see this deal structured?

MOST IMPORTANTLY, what is the most profitable way to structure this deal?

Thanks in advance.

Just a word of advice. From what I have been reading. It’s always a bad idea to have the homeowner in the house after you buy it thru short sale. There is a thread here on foreclosure forum about someone who bought at an auction, and now months later, finally getting the upper hand on the recalcitrant homeonwer/realtor.
Let me put it another way. If the homewoner was unable to bank the bank the mortgage, what do you think the odss are of them paying you rent. Go thru the boards about keeping the homeowner in the property. I am a newbie to this but I would get the homewoner to give you the keys at the clsing and you do a quick walkthru of the house to make sure they are packed up and gone.

you make perfect sense & I see it as a risk… unless they had a real decent $3-4K security dep. whci if they had, they might get out of forclosure. If you want to help them, maybe look for a less expensive L?OP they can get into through you… just CYA

I appreciate the suggestions, and realize the inherent danger, but remember assumption #3? “They NOW have steady income”

I want to know how to find people that are willing to finance one of my houses for a short period of time (2-3 years) and how that deal is structured.

For fun, let’s assume the potential buyer is NOT the homeowner…it is an unrelated 3rd party.