That is, can there simply be a document outlining the terms of the loan?

I would agree with the more conservative approaches that have been outlined in this thread. 

It will all be outlined or include information to set you down the right path.

It should outline the rent, deposit, lease term, who the tenants are and anything else that might be in a lease that's important to you. 

By following the process outlined above, you greatly increase your chances of consistently acquiring high-performing properties.

I suggest you sit down and outline your plan and timeline, best case, worse case scenarios and write it all out. then have her do the same and work towards a solution instead of just trying to convince her of your way.

The VRLTA has specific terms out lined for when there is no lease in place.  3) If/when they don't leave, file an Unlawful Detainer for holdover.

Today Joe Biden outlined his $1.9 trillion stimulus plan.

If the contract included clauses about assignment and the ensuring processes like realtor showings and potential sale to an investor, and you signed this agreement, then legally, the company can proceed as outlines, even if the reality doesn't match your initial expectations. 

@Santo MenonBefore you purchase a property you should complete an inspection with a licensed inspector that will outline deferred maintenance and larger CAPEX items that need to be replaced (roof for example).