How complicated can it be?

For me it's quite a bit more complicated than what you lay out.

Simply tell them you already have the financing lined up and want someone to help with the origination.It’s really easy if the interest and points total less than 10% APR and only slightly more complicated if greater.

BC the property would be his since he was in it to own it at the end of the term...not trying to make it complicated Promise :)

It's not complicated, but you have no reason to believe he or his mentor are looking out for you, Valerie.Jeff

It will also be a judicial foreclosure, there is no deed of trust arrangement for a non-judicial proceeding.

Things have a way of getting complicated really quickly. 

Let's not complicate it by talking about depreciation recapture and various minor complications and assume a 25% rate on the capital gain, or $100k tax hit.You can buy a new property using $1M proceeds, do cost seg that at a typical 30% ratio creates $300k in deductible bonus depreciation and save $120k at the highest Federal rate.

I guess it is my lack of experience, knowledge and network that makes it seem complicated to me!  

But that's still problematic as you'd be concealing something from the lender as far as the true source of those funds.As far as how to structure the partnership, it can be as informal as a letter of understanding or as complicated as a multi-page contract/agreement.