A dollar amount and the phrase "for good and valuable consideration" may or may sufficient in a transfer of title and may not be the same as described or required in a purchase contract that conveys an equitable interest.Mixing these two concepts is incorrect.When a purchase contract is made, legal title remains with the seller, but equitable title is given to a buyer, full title is in  state of limbo until settlement.Equitable title must be financially measurable, if it is not measurable or cannot be established and is an amount customarily accepted, equitable title may be limited or may not exist.

Maybe if you were to phrase this as I have "BLANK" (weather it be free time or man power) to help any experienced investor doing "BLANK" (whatever it is you want to learn) you would have a solid shot at finding a mentor in your area that is already doing what it is that you want to learn.

I hesitate to continue to use that phrase: if almost sounds credible.

Any good phrases/open-ended questions to ask?

I'm sure most people can understand what I'm saying, even if my phrasing is formal.

Forum,I often see the phrase "buyer must verify permits".  

So instead of coming here to ask how you should phrase your rejection letter designed to keep their money why not just return it.You wouldn't like it if it were done to you and you wouldn't like it if it were done to your child.

In the meantime, have him fill out an application and go through the same process as any of your other tenants.Oh, and be careful how you phrase the "too many people for my rental" conversation with him. 

I invite you to Google "Creating a LLC or S Corp in California," "Division of Corporations in California," or another phrase.

I hope you have a cancellation phrase that you will be entitled to something if they cancel.