@Jerome MorelosIt will be similar to what you sign with a bank, there will be a note (which is the iou which states how much you can borrow and at what terms and length)Then there will be a deed in trust (assuming California) which is a recorded document that uses the property as security.

You could make up an assignment, not record it, and send it to the person to hold to secure the loan, but if they recorded it, you would be screwed.

Keep track of this communication in PM software so you have a good record of it.When communication is silent there a high probability something isn't right.

Lawyer, have the air and unit inspected and IMMEDIATELY offer to let the tenant out of the lease with no penalty.... if its unsafe, then you are welcome to let them out to insure their safety.Its BS.... 99% sure the doctor ploy is BS and none of the medical records will support his claim

Your record of this deposit (via teller slip or online transfer) will be your receipt of payment.This elimates complextity and the additional steps/rules that come with using a third party to collect rent.I get an email alert when a tenant makes a deposit, and each rent amount is unique so I know who has paid in case they don't have the teller add a memo to the payment.They can transfer funds online, or walk in to a local branch with cash, personal check, wampum, etc. 

Regardless, it wasnt disclosed to me upon purchase/during escrow - must not be recorded. 

Proceeds to be used for 1031/DST, LLC would then be owner of record for 1031/DST. 

Same situation for me if the end-buyer does not close - I record the Deed held in escrow and own a property I never really wanted in the first place...LOL. 

@Mark Redmann@James Wise  my career such as it is    is totally based on relationships I have made over the last 40 years.. its been much more fruitful the last 20 as I gain experience and track record.

To answer #1, a track record with historical results you can show, a pitch deck that has a business plan with it, the sponsor putting in substantial equity...