Wanting to sell as a "Subject To"

[Mansoor Fazel]

So I have questions and need some help. I have a property that I have owned for 5 years, and would like to exit. I have had the same tenants the entire time I owned it, and they have expressed interest in buying it from me. They have been great tenants, never late, but they are having trouble getting a loan for the property, and I was considering offering them a Subject 2 deal, or wrap around loan. Problem is, I understand the principle of those types of transactions, just not the details. I have questions like:

Do I give them a Quit Claim Deed or some form of documentation for ownership?

How do they get a 1099 for the interest paid every year? If the loan is in my name?

If I do a wrap around am I required to issue a 1099 form to them as well? or if I do a seller carryback?

Do I need to place a 2nd lien on the property if I do a carryback?

Anyone have a referral for a contract lawyer in California that could help me write this up?

any other advice?

Thanks