Even so, they were able to help at times when I had technical questions about the legal process.

If not, then you really need a strong legal structure stating how these properties will be governed going forward, including management, tenant selection, capital expenses, etc.

Since our legal billed were $36,000, we’re $100,000 ahead.  

I have legal background, billing, office and executive assistant type experience, and now many years of marketing experience as well.

If you care to learn about the distinctions, read these posts:https://www.biggerpockets.com/forums/517/topics/1215989-expl...https://www.biggerpockets.com/forums/51-tax-legal-issues-con...2.

.- The TL states that those are technically the team's leads and I will owe the 20% if they convert within the year since I was given training (which I was not), lender referal (which was forced on me by the TL even though I work with my own lenders for my clients).Is the above statement true/legal/valid?

Most are fine with that, but a few will have problems with it and claim there are legal issues, etc..

Whether it's a legal demand for compliance or simply an email, it doesn't really matter; just make sure everything is in writing. 

And never being “at risk” is it even sufficient to legally bind a seller?  

Not sure if that is legal but I agree.