There is a recorded mortgage and also a promissory note.  

I know nothing about ME law specifically but I assume that can be done in accordance with local customs… Either by obtaining a court-certified copy of the original easement and re-recording it with all of the required signatures OR recording a confirmatory deed of easement which spells out the error and corrects it by including everyone who should have signed the original. 

In general, Cohan is overhyped by gurus who mis-promote it as a loophole for people who do not bother to keep records and receipts.

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

If you buy with a tenant in place, you save yourself the hassle of paperwork and inspections upfront, but you miss the chance to screen the tenant yourself—which can be risky.

Speaking of due diligence, did you check whether they have a criminal record?

The analysis is targeted to small time DIY landlords with 1-5 properties with minimum requirements to be able to do the following tasks online:  Listing/Syndication, Applications, Screenings, Leases with eSignature, Payment Customization (i.e.

Quote from @Nina Ning: I'm screening applicants for my rental.

We only have 4 units on section 8 right now, but in general, the system works well for investors IF you have a solid property manager who understands the subsides and does proper tenant screening.   

Unless the purchase price of the original sale is fully disclosed, and even then, some underwriters require that you actually have your deed recorded with consideration thereon in the public record before they will close a second sale.