Another strategy that's recommended all over the place including Wall Street is to ensure you have a well-diversified portfolio to keep your investments out of trouble and/or minimize the hits during the recession.

The money will be put in Escrow but what else should I do to ensure my back is covered and this investor doesn’t run off with my money?

I plan to buy the property, the reason I am asking the questions is to get all of the information with the intent to close on the deal and ensure I am not missing anything. 

@Gary BurnettYou don't have to use an attorney, in fact, most attorneys have no experience with IRA LLC and won't touch it as you must follow the rules to ensure IRS compliance.

The management piece is important also but in this hot market you want to know all of the underwriting strategies to ensure you are buying right. 

How can I ensure exclusivity and get paid?

Let them know your strategy, your goals and what your business plan is to ensure that your business plan aligns with theirs and you can both work towards the same goal.

You should talk to a real estate attorney or title company that works with investors in your area to ensure you are in compliance with any laws.

But we often approach the building inspector prior to a purchase to ensure zoning & any grandfathering of code surprises.

But your warning doesn't answer my question about the best way to ensure I have complete and accurate books.