The young lady is moving out of living with her parents, so I assumed she could afford to pay via a paycheck but she sent a text saying she will forward RTA form and CHA voucher. 

A promissory note and deed of trust are important but there are also other disclosures and documents you should collect to help protect the loan - Lender's Title Policy in 2nd position behind the bank loan, Loss Payee on the hazard insurance policy binder behind the mortgage lender so your parents get reassurance they'd be paid back if there were any claims that need to be made.

How do these conglomerates with holding companies and different sub companies do banking then?

How do these conglomerates with holding companies and different sub companies do banking then?

. Yes  NoSpecial rule for minor child: If the answer above is yes, the reporting company may insteadreport information about the parent or legal guardian of the minor child.Note: This exception only applies if a parent or legal guardian’s information is reported in lieuof the minor child’s information.

Of course he also withholds half the rent.

They're looking for a quick close within 30 days so they can get the cash in hand to purchase their next primary residence.A solution would be to withhold a very small portion of funds in escrow, but the seller would have to cover the rent as well.

I have a question in regards to gift or equity.My parents have a house they wanna get out of a payment. 

The plan is for them to save a little bit more and wait for the sale of their parents house to get a gift for the down payment.

it may not be your parent… maybe it is an aunt or an uncle or a grand mother who you can educate about real estate and get them excited too?