There's a few problems with this - first is that the lender will want to know where the mysterious $10K came from and assuming you tell the truth, they will make your friend sign a letter to the effect of "Tia never has to repay this money it is 100% a gift".If he's comfortable doing that, then he obviously trusts you because as soon as he signs that document you have no legal obligation to ever repay.As for the terms - why would you want to buy a duplex and only essentially "own" one unit?

In other words the best answer I can give is...... it depends.Deal structure varies from investor to investor , so what you will do on this deal may vary dramatically the way you handle the next.I wholesale & rehab a lot of properties and my typical process is the following:Once I get a contract with the seller I will send it over to my attorney to begin the process of pulling title because I have multiple exit strategies with every investment I put under contract.I always try to wholesale my properties first, if that doesn’t work then I will fund them, close and begin the rehab.When I turn around to sell the property as a wholesale deal, I take it a step further to ensure that I do not lose my deposit.Instead of just taking a refundable deposit for an assignment, I structure the deal with an extra document.

For longer documents, usually just the first and last page are sufficient): Title Property Tax Statement Copy of Deed or Warranty Deed Mortgage Statement Insurance Statement HUD 1 Purchase Statement Settlement Statement I don’t think this is convenience at all.

In the age of computers you can sign documents over the internet and have them emailed or faxed to the title co for closing.

And I have title company accounts and other paid data subscriptions that allow me to look at the actual documents.

., cause for a 3 Day Pay or Quit notice, then eviction.I would seriously consider a consultation with an attorney that specializes in landlord/tenant law, and just continue to document everything that you, the tenant, and any outside vendors do and say.When does the tenant's lease expire?

I deal almost exclusively with military tenants and I have done this several times, most before all the new online document services were available.

You can subscribe to a service called PACER, that will have every document filed in the Bankruptcy on it in electronic form.

You must document borrower ability to repay.

A document that says you won't tell anyone else about the deal+3 - a fantasy the "seller" is engaging in where they think they're going to get a 3% fee for forwarding an e-mail to you.