It would take 60 to 90 days to get your document back from the recorders office.You can sign the deed but getting it recorded was another thing.In Oregon we record same day and get recording numbers within 48 hours. there its 48 days or longer.. this lead to title companies having to give gap insurance. for instance what if some nefarious individual recorded something between the time you purchased and the totally inept wayne county recorder actually recorded your instrument.. you need title to fix it. 

Then I'd refine it further by the quality of the instrument.

Your attorney is correct about the seller finance instrument requiring foreclosure to regain possession of the property, but this is not how it typically works in practice.  

I wouldn't have a clue as to why there would be such instrumentation in a residential application.

How do you record the security instrument?

I started looking into real estate investing about a year ago, and these types of groups were instrumental to getting the knowledge I have acquired since then. http://www.meetup.com/Apartment-Investor-Mastery-AIM-Plano-TX/Here is a group that is meeting tomorrow, and they have another meeting Thursday that focuses on multi-family:http://www.meetup.com/Real-Estate-Investing-Social-Network/

The contract itself can serve as the instrument in writing for the identification.  

The note needs to be non-recourse, as you are not allowed to put a personal guarantee on any debt-instrument for the IRA.  

It is no more complicated than this: All HOA litigation, other than for routine and administrative matters, funded with HOA resources and/or debt instruments requires a majority vote of approval by home owners.

````````````````````````````````````````````````````````````Garn St Germaine(d) Exemption of specified transfers or dispositions With respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may not exercise its option pursuant to a due-on-sale clause upon— (1) the creation of a lien or other encumbrance subordinate to the lender’s security instrument which does not relate to a transfer of rights of occupancy in the property; (2) the creation of a purchase money security interest for household appliances; (3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety; (4) the granting of a leasehold interest of three years or less not containing an option to purchase; (5) a transfer to a relative resulting from the death of a borrower; (6) a transfer where the spouse or children of the borrower become an owner of the property; (7) a transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property; (8) a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property; or (9) any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.