The agent probably wants you to sign an "agreement to rent" which outlines then aspic standard lease realtors use.  

Attention grabbing headline, outline of benefits to seller, strong call to action, etc.

Seth B.We would normally follow the approach Marcia outlined above - take a holding fee (non refundable, but transferrable to their security deposit if a lease is executed).We frequently rent to international students (dealing with two in Germany and one in Australia at the moment).  

I've followed some of the basic principles that Bigger Pockets outlines, and they were fruitful for me on my first project.

The book outlines several different ways in which to get started but I was wondering if anyone had any experience or advice they could share on their start as a real estate investor.

@Anthony Hartzog - Welcome to BP where you will find a trove of info and near real time help to your inquiries.I found a response to a similar question by @Nancy Neville and it has a lot of salient points that will start your education in REI and the road to being a landlord.....here is Nancy's response which is a course outline in itself.

IRC section 4975 outlines disqualified parties and prohibited transactions.

Other wise with the scenario you outlined if they have the wherewithal to get that kind of loan they probably don't need you or that small amount of equity ... they can probably find it themselves and at better terms...

Or if it is a flat rate for the job, have a contract outlining the scope of work and what you will pay to complete that scope, as well as any draw schedule.Then you simply write them a check from your LLC check book and log it in quickbooks.  

It should clearly outline everything about the deal and the strategy.