I've downloaded those documents and they look to be pretty detailed and I think they can be amended pretty easily as well. 

I won't go into details on a forum such as this though.I think you that you are correct in that you should assume liability if it can be determined that your work caused the problem.

Two actions in one document.Another power of a trustee is to foreclose, that is a very detailed process, best left to experienced folks. 

Would you mind sharing details of your deal? 

Shoot me a message if you want more details.

What are the details?

Order a title report, set up escrow, write out the details of how you want the transaction to go and have an attorney put together the paperwork.Another option is for you to buy the house for the amount owed with a carry back from him of the equity you want him to have.

Details, older house, 1910, but newly renovated, I know there's tons of variables that go into homeowners insurance but for a house valued less than 80k, $1,700 annual insurance seemed extremely high to me.

I appreciate you taking the time for such a detailed reply.

I think the most important detail is to know your partner, then do a detailed LLC or JVP agreement and spell everything out, down to last detail, including an exit/dissolution in case things go bad.