(It is hard to keep up with the rules on secondary market loans so I may be wrong about that.)I would suggest putting together a more formal proforma rather than simply relying on the 1% rule.

The process is a lot less formal, and the title company said we would have had ten times more paperwork if there had been a bank involved. 

You come to an agreement with the seller, that agreement is formalized with the purchase & sale contract.

Have your lawyer send them a letter stating you will file a complaint against them with the contractor's authority be it a state contractors board or the city itself but there is a formal and legal process to file complaints against contractors and you are allowed to sue them for damages. 

I would use an independant contractor agreement with your contractor friend and do a few deals before I formed a formal entity with him. 

Absent brother having a will or more formal estate plan, you'll have to follow the laws in NJ for intestate decedents estate.

I highly advise that you do create some formal corporation and detail how everything is set up and divided if things go south. 

This form provides evidence of the principal officer of our company.This letter is to serve as a formal written request pursuant to §2943 of the California Civil Code.

As far as a formal letter goes, the only time we issue a formal letter of denial is if the denial was credit based.Also something else to keep in mind is if you have an income requirement (hopefully everyone does!) 

Currently waiting for formal bids from contractor but additional advise and guidance is greatly appreciated.- Electrical not to code.