@Steve S.Florida has a similar law: 481.221 Seals; (6) No registered architect shall affix her or his signature or seal to any final construction document or instrument of service which includes drawings, plans, specifications, or architectural documents which were not prepared by her or him or under her or his responsible supervising control or by another registered architect and reviewed, approved, or modified and adopted by her or him as her or his own work according to rules adopted by the board.

They will commonly do up to $50k unsecured LOCs, so perhaps you have a modified version of one of these.

@Kevin Polite I am not a contractor, but I can see hundreds of possible issues coming up on trying to modify plans and set prices on a deal like this.

Start with official TREC contract and modify it to suit your needs.

Feel free to modify ours for your own use.About your applicant...

That's a very complicated but (seemingly) brilliant strategy.I wonder if you could modify it a bit to match my query:I'm joining forces with with another investor who's also a RE agent with his own LLC.  

Once I figured out what the form I needed was called I found that exact form and modified it a bit to fit my preferred look and feel.Thanks for the help and the link!

I would say it's a separate conversation for you.... or at least over 5-7 years you can spread out the premiums.The reason is that the it needs to remain outside of the MEC (modified endowment contract) status, which is a ratio between premium and death benefit. 

But based on this last personal experience, I'm going to modify my approach by capitalizing on whatever resources are available to have the property scoped out first.

Better yet, can you convince her you’re going to refuse to close unless she agrees to modify the JV agreement?