I have already filed a formal complaint with the Contractors State License Board (CSLB) regarding this matter.Given the circumstances, I am seeking your advice on whether pursuing action in small claims court would be a recommended course of action. 

The promissory notes may appear all the more attractive because the seller falsely claims that they're "guaranteed" or insured.

No google reviews yet they claim to have originated $40M since inception (nothing on website points to when that was).

I think it's 2 million per claim and 4 or 6 million per year in total liability.   

With tremendous equity, positive cash flow, security against the property, and a pre-signed quit claim deed, a PML answering the call to action on this one could receive good short-term gains!

Increase deductibles: Raising your deductible can result in lower premiums, but make sure you're comfortable with the potential out-of-pocket expenses in the event of a claim.4.

I don't see how you have any claim to title just by having a lease to rent the property.

Why would they lend it to people who may or may not pay their mortgage.And if you claim the real estate "market" is going to rise then you have a lot to learn as there is no "market".

Some other reviews claim that in fact they didn't get all the answers for their $1495.00 training and that USTLA was trying to high pressure sell them on a elite package between 25-33K, in order to get those answers. 

The purchaser may have to present that claim in case the executor does not have actual knowledge of the contract, but you are mistaken about unenforceability.