@Jay Hinrichs It is illegal for anyone other than a licensed attorney to prepare a legal instrument in all 50 states.  

When I look at investments that offer a similar level of security to A and B class properties in Las Vegas I look at instruments like CDs.

As such, you cannot put a personal guarantee on a debt instrument when the plan is purchasing properties.  

You are correct, you did not say to commit loan fraud.HUD states:"You may only break the owner occupant requirements if you relocate or establish residency in an area outside reasonable commuting distance from his/her current principal residence.FHA security instruments require a borrower to establish bona fide occupancy in a home as the borrower’s principal residence within 60 days of signing the security instrument, with continued occupancy for at least one year.Important: Under no circumstances may investors use the exceptions described in the table above to circumvent FHA’s ban on loans to private investors and acquire rental properties through purportedly purchasing “principal residences.”

Promissory notes are usually not recorded and hence are not in the public record, what is in the public record are the mortgage instrument or deed of trust, which do not include the loan amount.

Coupled with the fact that she has a much shorter time horizon at 60 than she would have at 30, 40 or 50, I would lean more towards getting this money into the hands of a fee based investment advisor and getting it deployed into exchange traded funds (or other suitable principal protected, low fee instruments) that will (if history is any indication) return her much more overall than the real estate portfolio will (if history is any indication), in a completely principal protected environment.  

In order for the lien to be granted Investor A must also be obligated on the note as they must retain a right of redemption onto the security instrument.  

As with any sophisticated instrument, however, one must commit to understanding the proper usage.  

That game was instrumental in training my brain. 

She should still put it into Trust instrument.