I have a great track record with fast leasing (<15 days vacant on average) and rent collection (100% over 7 years).

During the option period what should I ask for from the seller to verify that rents are being collected?

Who would be some 3rd parties that could collect/process the monthly payments and send it to her, and end of the year statements.  

The tenant pays the rest and not a penny more can be collected from the tenant.

Remeber to stay calm and collected and don't panic if things don't go as planned.

(They should be happy to collect the points you are paying.

Just a collective group of like minded people looking to share information.

It doesn't matter what kind of loan it is, commercial or consumer, mortgage or a car loan with the title signed over, it's predatory lending and attempting collect collateral will be an illegal venture.If you have made a loan like this as a borrower, go see your attorney.Many attorneys are still operating as they did 20 years ago, not news, that's why in finance you need to see a finance type attorney who has kept current!

Leasing, maintenance, tenant relations, collections, evictions, accounting, providing you reports and letting you know of CAPEX needs, doing that CAPEX, etc.  

Don't accept what the brother says verify.Find a law firm that handles collections and ask them what they would charge to negotiate a payoff for the CC's.