In order for a lease to be valid, it needs to be between the OWNER and the Resident, potentially executed by your property manager/designated agent, You don’t want to write a non valid lease for some fake privacy you won’t get anyway.

Otherwise, you become the big bad owner evicting the two sickly senior citizens in their moment of vulnerability.

(They should absolutely be two separate agreements, by the way.)I don't see any problem with the lease agreement if the landlord dies, as long as you have an original and properly executed document.

Then I would get into what exactly is their business thesis is and how they execute on that strategy.

From those relationship build a core team that allows you to execute acquisition & business operations.

The deal that you syndicate should be worth all the trouble it will take to successfully transact the deal.I don't know how knowledgeable you are with CRE investments but you should consider drowning yourself in developing a very detailed understanding of CRE business and finance in order to successfully execute a deal.Let me know if theres anything I can do to help you.

No question that that is doable, but what paperwork should be executed to establish good clarity for investors? 

There was no promissory note when we executed the JVA, just the agreement itself, although the language states that "Developer shall acquire and hold title to the Property in his name but on behalf of the joint venture between the parties."

I have heard on several occasions of "private" lenders taking fees and then not executing.

I appreciate the vulnerability some people have shown in the tread to share some personal information about their own growing up and the effect that deprivation trauma (poverty) can have on people (@Dennis M., @Patrick M.).