With nothing in writing from the loan originator, and that notarized promise you make as described above, who will be the one that ends up in hot water here? 

Those that do not are very likely to fail later because RE requires such a vast breadth and depth of knowledge that if you cannot take the simple steps you will fall on your face when the trail is harder.

Was notarized and recorded w/ the county.

I simply asked them what process do I need so I can get title insurance... the person in possession would not come to title to sign.. so the only thing I could get was this assignment ( which I had a mobile notary show up so we had a notarized sig) ..

Just started using NotaryCam (was the quickest way to notarize USPS form 1583 for Earth Class Mail).It only costs $25/signature, and $79 if you are international.Whole process took me about 15 minutes (top).  

Also, I did buy the four BiggerPockets books and I read and notarized them.

New owners have to honor existing agreements with the property.Was your agreement notarized and recorded, Farrah? 

He told me that it "should be notarized" to be recorded.  

Notarized and recorded.  

New construction carries many of the same risks as older construction.Who is to say that the former landowner didn't have a signed and notarized agreement with Billy Bob's grandpa saying that Billy Bob and all of his descendants have permanent irrevocable cow grazing rights over the land that all these houses are now on?