Another thing that will be really helpful for you to do is pull up the mortgage instruments against the home (hey, as long as your at the county, why not?).  

The other units will pay your mortgage so you can spend your money on more important things like musical instruments and accessories. 

It's like musical chairs and when the music stops, the one left out loses. 

Hey @Tim Illguth For a wholesaler the contract is an extreme important instrument to structure a wholesale deal.

Not sure what stage of pilot training you are at, but I am working on my instrument rating, and am finding it a challenge to find balance between getting started in real estate investing, my other home business, and focusing on ground school and flying. 

Any debt instrument will need to be non-recourse, at least with respect to his IRA.  

You will need both of these documents - the security instrument (either a mortgage or Deed of Trust, depending on your state), a promissory note, and you may potentially need other items, as well - again, depending on the laws of your state.In my personal opinion, a loan with only origination points and interest is much easier to than a loan that gives the lender partial equity or a portion of the profits.

Any debt instrument must be non-recourse, meaning no personal guarantee from you.Flipping is a trade or business, and if your 401k/IRA engages in such a trade or business on a regular or repeated basis, there is a trust tax known as UBIT that applies.A leveraged flip is probably one of the more complex transactions one can do with retirement funds, and you will not only want to speak with professional providers of self directed plans, but also ensure that you have a skilled CPA on your team.

@David DachteraI thought tax returns and certain land record instruments could allow a judgement creditor to determine who the beneficiary is. 

Quitclaim is a type of deed that is generally used to transfer property rights from one individual to another without any warranty.definition from Google, you can easily obtain definitions by doing the same search on the Internet:"A quitclaim is a legal instrument which is used to transfer interest in real property.