I believe that it will be beneficial and that it will help me to follow my business plan. 

The borrower must be capable of re-paying back as agreed. 2.Repayment is made Monthly Quarterly or Yearly depending on the choice of the borrower and The Repayment schedule for a Loan is calculated and sent to the borrower.

Its often very beneficial to have a coach or someone to guide you along the way, but not many people are doing it for free and often times the hefty price tag, is completely avoidable by simply networking.  

We should discuss mutually beneficial opportunities!

Next, have the seller sell you the beneficial interest of the Land Trust for $80K.  

All in all I'm sorry you had a bad experience, but I think you made the right choice in my opinion. 

The only time it is really beneficial to take a 15 or 30 year am is when you can get a substantially better interest rate which is not really the case considering the possibility of a 5 year, 30 year am, in the high 3's.

And I don't know if you can switch to your own tile co (and pay for the title insurance) after you picked the "use seller's closing agent" choice.

The OP and the co-owner have choices.  

It's about $85 to do yourself or $400 on legalzoom.com After you have the LLC you get an EIN for the LLC and open a business checking account at your bank of choice.