The mortgage or deed of trust is the security instrument that pledges the property as collateral for the note.

@Cameron Riley I noticed you didn’t mention mastermind groups which were, by far, the most instrumental for my business to be where it is.

@Bill McCafferty I believe you were instrumental in the writing of this book.  

Then 1031 into safer more passive instruments and stay there until you pass and let your heirs benefit from the step up basis.Do you want to step back but be ready to play again if the mood strikes - not because you have to but because it's fun?  

He has saved us a ton of money and has been instrumental as we have grown our business.  

Something might say "Quitclaim Deed" at the top of the instrument, but contain words of warranty down in the body, using language nobody understands or pays attention to. 

Immediately after the purchase you can unlock that equity with whatever debt instrument you choose and use the cash for your own purposes.You purchased as much as you sold.  

In the abstract of title there were no mortgages found.It was my understanding that title can transfer outside a closing table as long as the deed is a written instrument, has a legally competent grantor, the grantee is identifiable and alive, there is a recital of consideration, there is a granting and habendum clause, the deed has a legal description of the property, there is a valid grantor signature, it is notarized ( for recording purposes ), and there is delivery and acceptance.If the deed was legally valid, could the transaction with Mary and Mike take place? 

While it isn't necessarily a bad way of calculating your actual return, the return on equity is a better instrument, because it takes into account the equity trapped in your investment and compare it with your gains or loss.

The instrument used is not what creates the tax liability.