That is, they take the arrears, the late fees and any legal fees and they create a 2nd.

Do I have to legally disclose to my boss that I will have my sales agent license and have a brokerage sponsor that is someone different outside the MF development company?

@Brittney YangFor the actual legal document, get an attorney.

Negligence is only a cause of action when there is a legal duty owed. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

If need be, I can/will go down the legal path again, but I would like to avoid it as I want this property flipped ASAP. 

CA is brutal when it comes to taxes.I don't give tax or legal advice, but many people believe that holding the property in your name and having a good umbrella policy is a good solution.

- Also, what is their networth, so they are legally collectible for the guarantees?

It may be a tough pill to swallow if you feel you’re totally right, but you may be surprised at the LEGAL opinion rendered by counsel.  

That is why it is hard to get regular real estate loans on assets valued so low, the cost of the refinance makes it so you are paying higher than they can legally charge you percentage wise.