I'm new to the private lending space and am trying to get my bearings straight before talking to a legal experts. 

The syndication model will not work for small deals as the legal and compliance costs are not justified for raising small amounts of money.* The customizable fund can be used for raising money for a single deal or investors can invest in a bucket of properties so their risk is diversified.Please reach out to me if you would like to learn more.

@Bryan Field how will you educate yourself on all the legal aspects of managing rentals?

@Sam SandTo answer your question direct: Legally only 14 states requires licensing to make a business loan, so odds are you can get started where you live.

Landlords can legally manage their own property in every state.

My relator said we shouldn't go forward because if the city find out we turned it into a duplex the county can take some type of action on us "not sure what that means" "Also i feel like my relator has a legal obligation to tell me not to go through with this because if he said do it anyway i could possible seek legal action on him (ps I wouldn't)"..

Security deposit amountYou can find plenty of examples by searching for "tenant estoppel certificate doc" or exchanging "doc" with "pdf" for more options.Here is an example and explanation: Sample EstoppelSome have a lot of legal jargon but this document does not need to be so detailed.

You can track individual funds using your spreadsheet or software.An LLC is useful for two things: anonymity and legal protection.

I would think the lease contract is a legal document. 3- Insurance coverage is reimbursed through NNN.

I recommend you buy "Every Landlord's Legal Guide" by NOLO.