That is not a particularly hard thing to do, but you need to put it in writing and execute a new note for the loan mod.

(As I write all of that, I think Option 2 would be better, but throwing it out there for those with more experience).

Get everything in writing!

In the buyer line we would always write "*entity name* and/or assignees".

If it was me, I'd look at it this way:1) Paperwork: I can hire an attorney at an hourly rate to write up a purchase contract, etc. 

I have some clients who prefer to have a PM for maintenance/contact/rent collection/general management and will place tenants and write leases for themselves in exchange for a reduced rate.  

It is a tax write off.

Fees should be clearly stated in writing, easy to understand, and justifiable.

Fees should be clearly stated in writing, easy to understand, and justifiable.

You can write the best guide but people want information for credible sources so you might want to clarify all of that or it might be an obstacle all along.3.