That is like saying is it necessary to take a shower when you can simply just keep spraying yourself with axe body spray through the week ? 

The general public needs a governing body to oversee this stuff to protect the public's interests.

If I was a seller I would want the offer first to know someone is serious before releasing that information to someone I don’t know.

You have to step out of your body and figure out what is really bothering you.

I’m looking for a promissory note, release of note, release of mortgage, mortgage deed or warrantee deed, or any other great templates for securing, and insuring a private lenders money for WA and CA.

Perhaps most importantly, the Court of Chancery has an established body of precedent and great judges, so in the event of a dispute you will get a fair process and well-reasoned decision.  

That can be mitigated somewhat by defining an "investment period," where the fund is allowed to acquire only until a certain date, after which time any unfunded capital commitments are released and the investors are free to no longer hold their funds aside for future capital calls. 

There are a lot of threads about NWA on here, I recommend doing a search and reading up, here’s one:http://www.biggerpockets.com/forums/312/topics/70990-house-is-not-selling-advise-please    Also they charge a non-refundable down payment before they even ”release” full property info (I believe it’s $5k, and not Ernest money down mind you, just a straight non-refundable down payment).

If you proceed, have the money put in escrow at closing, with appropriate release language for repairs.

@Qi Gao let them go, and try to release the unit.