Type up your scope of work.

@Richard Rafferty, while I generally agree with Chris, I will first ask what types of property are you looking to syndicate?

He was new in town, culd not afford nice all on his own, needed a roommate and this type of real pairs people up.

What made you interested in investing in this type of deal?

Lease options, and there are a variety of types of lease options, can be a good starting strategy for many aspiring investors. 

With an invoice showing "no charge" for fixing the cupboard, this hopefully can't happen again if a contractor changes did mind or has some type of mental lapse.  

You could give them a thousand bad reviews, if they are the only person in town offering a specific type of product, people will still do business with them.

In the meantime I would love to have some helpful information or ideas to share with the buyers when we meet and ideally an agreement/contract we could fill out together once new terms are agreed to and then share that with the attorney so he could draft up the formal instrument for recording.If you have experience with this type of scenario, I’d love to hear any recommendations you have or any helpful resources you could point me to for the appropriate paperwork.Under foreclosure laws, you have to send appropriate notices and try to work with the borrower and offer a loan mod before foreclosure anyway. 

I can likely do this loan, but in all fairness, with this type of loan I suspect a community bank is going to beat me out.

What made you interested in investing in this type of deal?