Private Lending Advice

[Gil NA]

Hello, I came across an opportunity to invest/ private lend on a fix and flip. The annual return rate is good and time-frame works for me.

My questions are;

1) what are the type of documents I should expect to receive during the contractual process? Promissory note, grant deed etc.

2) should I setup an LLC for tax purposes or other benefits of LLC vs personal?

Thanks in advance.