As a former realtor, I've worked with lenders and know the rules. For self employed workers, lenders require 2 years of employment and 2 years tax returns. The reason is because the income is not easily verified by computer and lenders need to average out an annual income from 2 years. As for tax returns, lenders can add back some deductions to increase the income but not all deductions will be added back in.
Employees who receive a W2 from their employer just need 1 month of pay stubs because their income is easily verified by computer.
I think your plan can work. Beware that the interest rates and lender fees for you will be higher since the home will be considered an investment property if it's in your names. Residential loans which have low interest rates and fees also have a requirement that the buyer must move into the home within 60 days and is not allowed to rent it for the first year.
As for any legal documents, you need to contact a real estate attorney. Nobody online can give you legal advice since each situation is different.