--I would agree that this market has opportunities for seller finance as a record number of properties in the US are paid off. 

What is the most cost-efficient way of updating the deed records?

You want to find a balance of investing experience, but strong track record of multifamily sales (which you can see on their Zillow profile).

Right now, homeowners across the country are seeing record amounts of equity.According to Intercontinental Exchange (ICE), the average homeowner with a mortgage has $319,000 in home equity.Why Have Homeowners Gained So Much Equity?

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

What category would you recommend recording the cash deposited in? 

My LLC is registered obviously, then I received a form in the mail once the property was recorded after purchase. 

If your partner does a conventional loan, you would sign allowing the mortgage to be recorded, but you do not need to sign as personal guarantee on the NOTE for a conventional loan either!

Many investors in syndications ask such basic questions: what's your track record, when do distributions start, and how frequently do you pay distributions.  

While may not have high amount minimums, they may have a minimum $ threshold for cc processing, Ours is $0.60, with a discounted plan that could be a few as 8 records.