Not so dissimilar from most note joint ventures agreements.

Unless the seller/lender is added to title as a joint tenant, which would be downright stupid, the only other way they are “getting the property back” after the death of the buyer/borrower would be to foreclose and be the high bidder at the auction.

I came to the realization that joint venture partnerships are an awesome strategy.  

The lack of capital gain would already be a huge no no for me but so is the inferior property title (foreigners can't own land in Thailand).There are so many better ways to make a 10 - 12% ROI, which by the way you're not guaranteed to get (which would be ok if you could get capital gains)!

My business partner and I already set up an LLC and we are looking to start acquiring RE with two other individuals through a joint venture type setup. 

A follow up question I had was, does the tittle and deed need to be 50% in each partnership name ( 1031 investors and new investors) or can a new joint partnership be created with each group as 50% each owner to hold the property?

Purchase price: $1,800,000 Cash invested: $960,000120ft tunnel carwash with 3 detail bays and an upstairs business office. rebranded the carwash business to match the same name and logo as two other carwashes and offered a joint monthly unlimited wash pass that was usable at any of the three wash sites!

Attend real estate meetups and see if you can get a joint venture for the first one.

You could also consider a joint venture with someone who has the necessary experience, or see if the builder is willing to act as a guarantor.

I would send an email reminding them what it means being both on the lease and jointly and severally liable for the payment of rent and that you are required to follow all terms of the lease as written, including filing an eviction that will attach to them both if necessary.