This way I can recognize potential deals a lot faster and hopefully make money for all of us involved.

Last but not least, recognize that there's nothing wrong with a "good" investment. 

The only type of Deed we do not recognize in Texas is a Quit Claim Deed."

Recognizing, of course, that interest on any payments received will be taxable.So, in this situation, what happens if the seller defaults?

And she knows who I am because I am a local pastor and she recognizes me from my posts on Facebook that most our town sees.

And if interest rates are too high 15 years from now and a refinance or another 1031 isn't feasible, then you will have to sell and recognize the gain. 

Some I've recognized from other sources so not sure about their availability. 

Sounds like you may have found a Gem among the rubble. one point of Info: In Texas most Title Companies will not recognize a "Quit Claim" Deed, except on occasion from one relative to another. 

It's a proven concept that evicting as soon as rent is not paid will result in an overall higher ROI for a landlord then one who "works things out" This is why all large scale rental businesses operate this way. 

I listened to his long winded explanations of what was going on (he lives alone) and told him I recognized I'm hounding him as we talked 1-2 times a week but I hope he understood which he did.