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.

The real trick is not finding the instruments but knowing what they mean and how they impact the title.How long is a judgment good for, what are the requirements for a valid conveyance, what affect does a divorce have on the title and judgments that may attach to the property?

Invest in yourself and your business and buy/borrow a couple dozen books and listen as many BP podcasts as you can (and others), turn off the music on your commute and turn up a podcast.To your success...

What do the "Instrument" codes GR, WD, QC, BS (etc. etc.) mean?

Thanks, it feels like I've started too late being a senior in high school now, but I've been listening to the podcast more in substitute for listening to to music, but in order to really understand all the terminology used in the podcast I've been reading the BP Ultimate Beginner's Guide.

You took action, so this is like great music to my ears...

I became an investor by doing all the wrong things but I"ve learned as I've gone.  3 of my houses are where my son lives and he is instrumental in bringing them up to rentable and then managing them (and we pay him for that and still make money).