If you need more on the type of structure and your option etc IM me and we can chat more and go into a more detailed legal discussion of your goals and situation etc. 

I guess I would like to know more about the business side, rental rates, legal perspectives, things that a new investor doesn’t think about or understand on the first few deals.

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

I have a template i pulled off the internet. i suppose i should have it looked at by an attorney to ensure it affords me all the legal protection i need.

It is only through reconciliation of these ledgers that ownership and compliance are legally validated.

He tries to site a lot of different legal jargon, which was out of place and made no sense.

All within legal allowances of course. 

First step is to have a real estate lawyer draw up a legal mortgage contract.

I’d like to finance the property to someone who maybe can’t qualify for a conventional loan and secure a loan for them at slightly above or at the market interest rate.Does anyone know how to go about doing this from a legal/underwriting perspective?

Do not rely on it for legal advice.