Quote from @James Kerson: James, play along with me:1.

I understand fast solutions have slow problems.If I'm myself, I continue to lean into REI via BRRRs in growing areas of buying established but undervalue in very good areas to keep it a growing % of my portfolio.

Any ideas on forming a new LLC with him to build vs continuing to loan him funds and dealing with the bank perhaps not liking this?

I’ll continue to gauge the interest and make a decision.

You're worried about the defense you need to play, just play offense.

In case of continue the deal I would request and appraisal and inspection but still, as you mention, not sure if it is a good deal.  

Then what’s your play? 

Get Kiyosaki's CashFlow Game and play with the family.  

The use of online classes has been increasing every year and are projected to continue to increase.

Costs can be on the lower end if you use more standardized templates, while custom documents tailored to specific deals tend to fall on the higher end.Location can also play a role, with attorneys in larger cities often charging more.