Thank you @Dan Gheesling for proving the step-by-step instructions for getting this done without the need for using any external services.

If you have not made the contract with the seller yet then put both names as the buyer in the contract then just assign to your end buyer but instruct your title company or attorney to split your proceeds 50/50.

You will also need to give Bill your wiring instructions for your bank and work out any draw schedule.No offense, but this is not a good investment for Bill, the LTV is way to high and you have no skin in the game, i would not do this loan, but maybe Bill is more trusting, good luck.Rick

Here's how I do it:1 - Set up an escrow account where the money from the loan goes first with instructions that the funds are not to be released until...2 - There is a guaranteed investment where the returns cover the loan payments.  

The information in your DNB gives the vendor information like your address, hidden partners and their addresses, how long you have been in business. it is a snapshot of your structure.

As people leave the open house hand out the application forms with clearly written instructions indicating any missing information on the form will be a automatic rejection.

A few great books worth the read:  Trump University Commercial Real Estate 101: How Small Investors Can Get Started and Make It BigLindahl, DavidThe ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors (Paperback))McElroy, KenRich Dad's Advisors: OPM: How to Attract Other People's Money for Your Investments--The Ultimate LeverageMichael A.

Also make sure they give you an idea of what hidden issues are common and could be present, not just an estimate on what is apparent. 

You can also convey to her that you listed only the things you know about, not the things that are hidden behind walls and in cabinets.You could give her a solid offer and let her know that it's your highest offer. 

Make sure you give yourself a good inspection period with clear instructions that if the inspection fails you get out of the contract and get your earnest money back.