Account ClosedBigger pockets provides great resources in their "tools" section, I think there is a document titled "Promissory note"You can also talk to any lawyer or a simple google search would do.More than the note, however, it is important that the two parties (lender and borrower) trust each other and live up to their commitments.  

I would much rather have a professional that pays for insurance and who has read many contracts do mine than have someone who only sees a few contracts a year. 

We only use title companies to insure title and what you should be looking for is a good escrow company.2. 

Property management fees, and maintenance, CapEx, insurance, taxes....Does it need rehab? 

Once you transfer to an LLC, you will need different property insurance. 

Loan Pre-payment penalty: N/AMortgage Insurance Premium: N/A Funding Fee: A one-time up-front funding fee is charged to maintain the program for future Veterans looking to secure a VA home loan.

Additional expenses include: $600 yearly insurance, $30 HOA, and $100 monthly management fees.

Additional expenses include: $600 yearly insurance, $30 HOA, and $100 monthly management fees.

make the payments, keep the insurance enforced, take care of the property, only do wraps or subject to's short term while you sell or refin and use a 3rd-party escrow company for payments.  

I am not saying your tenants should not be held responsible (but if they challenge you, you need to have documentation).