@Terry SargentA deed is an instrument used to make the transfer of ownership.

I appreciate your feedback as it has been instrumental in helping me make a well-informed decision.

Darrick P. as many suggest get a party involved that knows what they are doing which can be a licensed originator and/or attorney.In the interim to give you a better example of a better instrument you can always review what the big boys use (Fannie Mae/Freddie Mac) here is a link, you would review the Multistate Note.http://www.freddiemac.com/uniform/doc/3200-MultistateFRNote.doc

Once you get more advanced you may want to cross reference land data with the recorded instruments (deeds, etc) in the county's register of deeds.From Multonomah County:6) How can I find information about my property?

While the partner is free to secure a loan, with recourse back to him, most banks are going to ask that both owners sign the note, and are going to require that both owners sign the mortgage (the note instrument and the mortgage document are two separate items in play here).

If you buy a loan (note and security instrument) you become the Mortgagee (Lender).  

I typically go about 75 MPH, set it and forget it and make calls or listen to music.

Which instrument will you be using to control the property - you may do a lease with an option, you could do a purchase agreement and close with a mortgage and promissory note, etc. 

If the borrower defaults, a Mortgagee can look to the rents through the instrument and courts.

IMO a few of the best search criteria are: date of sale, type of instrument recorded last, state in which the tax role is sent, current appraisal value, exemption type(s), appraisal adjustment(labeled as percent good here), and by name(can find owner of multiple homes easily).I hope this helps