Here’s a quote from his email to me:“The escrow officer we dealt with was absolutely adamant that the Note cannot be recorded, that it’s not a recordable instrument and that she and title could not record it.

Will the security instrument be nullified or deemed unenforceable?

The only experience I have in real estate comes from the experience of purchasing my first home in Richardson with my husband, who is a software engineer at Texas Instruments. 

A party of interest in the property that was sold at tax sale may assign his or her right to claim excess proceeds only be a dated, written instrument that explicitly states that the right to claim to claim excess proceeds is being assigned, and only after each party to the proposed assignment has disclosed to each other party all facts relating to the value of the right that is being assigned.

If you purchase with cash, then you can finance the property at anytime.Another "tip" I would suggest is to finance with variable rate (though perhaps fixed term) instruments, but arrange your payments as though you had opted for a fixed-rate financing.  

They agree to those terms and we setup a few legal instruments to protect all parties:1.

Once the docs are drawn up, you get them signed and notarized and have either the attorney or title company record the financing instruments with the county recorder.

It used to be that bonds were an important part of a typical portfolio--until bonds started returning near zero (which was pretty instrumental in pushing stock prices up  as more dollars crowded into the stock market). 

Once we finally get inside, we discover that the building isn't worth half of what they're asking, and was totally unsuitable for our use.Back to the house with the surly tenant.

This Agreement and Tenant’s right under it shall be subject and subordinate to the lien, operation and effect of each existing or future mortgage, deed of trust, ground lease and/or any other similar instrument of encumbrance covering any or all of the Premises, if any, and each renewal, modification, consolidation, replacement or extension thereof.19.