And we would get a document notarized stating the agreement.

Investing passively on a syndication is another great way to get exposure to the documentation that goes into a deal - on the underwriting side, debt/equity, legal disclosures, closing documents, etc.

@Joe Kelly - check the documents you signed. 

Here, you had to go to the courthouse computers to view the actual filed documents in a civil case. 

He seems straightforward and the documents say my interest rate is "locked in," but I've heard horror stories of young investors having the terms skyrocket at the eleventh hour leaving them nothing to do but accept it or walk away from the deal (after having shouldered inspection and travel costs, etc.).

@Jill Davis the best method to compare fees is by receiving "Loan Estimates" from the lenders you are choosing between. 

I want to have two documents, a lease and a separate option to purchase. 

I cant find the document or reference I saw but you could just Google grand rapids building inspection or housing requirements and find something.

I'm viewing a property from Realtor.com tomorrow: I'm taking my notepad, tape measure, and camera (I'm also a photographer) to document anything that seems to warrant noting, measuring, or photographing.

Basically your IRA can buy a piece of real estate and as long as it its used exclusively for investment purposes, your IRA would receive all rental income to grow your IRA.I would be happy to connect and answer any questions you may have.