Quote from @Marshall Smith: The answer is subjective.

Just that the duplex is now subject to the first loan and only comes into play if I need to sell either lot, do any refinancing or default on one of the loans.

Yes, most people I ask on here and off-line  have limited knowledge on the subject.

LVP is subject to fading under direct sunlight.

Thank you @Darius Ogloza, I realize that factoring risk into the profit split is a bit subjective. 

So, whereby other investors may be looking for the type of deal where they can use say a subject to financing, I’m instead looking for value I can create by utilizing anyone of a number of strategies or techniques.  

and not have the sale subject to it ?? 

Are we all subject to capital gains on just the $300k? 

Do you expect to sell the property for more than $250K over what you paid for it, if not no worries about this.As @Frank Chin mentioned, the portion of your property that was being rented is subject to gains.

Since without a quiet title action the title may be subject to challenge by the former owner or lienholders, title insurers may not be willing to issue a title policy w/o exception for that risk.I don't know what a 120 affidavit is.