If one of you wants to take out a second mortgage on it to secure his/her interest, that's fine because it keeps the deal clean and there's nothing to dissolve if/when the break up occurs. 

If you do something simple Security First title can record the mortgage terms for the owner -- I did that on one of my deals -- we spelled out the terms (interest and how id make payments and when they were due etc -- they recorded it for us)Wasnt super official - but worked and owner was fine with it.

Glass block is my personal favorite for both looks and security. 

Some say the security backed line of credit will not go on my credit score and some say it will.

Screen your tenants well, try to find a responsible one who will be willing to "manage" the property in exchange for reduced rent and take as much security as the law allows and you will be OK. 

Worked with agent, contractors, bank and insurance company (to secure financing).

@David A LisowskiWhat he said ⬆️OP— research & learn more about mortgage backed securities to understand why/how Fannie/Freddie/& Ginnie Mae work.

If Lonell steps up and moves in, the property is thereby secured, the property is more likely to be maintained (preserving value), and if he intends to stay there, the property taxes will be paid. 

If I'm not mistaken I have the right to call the internet company to remove the wiring and patch up the hole they made into my kitchen and if I am charged I can take it out of the security deposit.

Before the 2008 crash, I used to have my securities license.