If you get a deed and take over payments, there's no "security instrument" for the seller, unless you wrap it with another mortgage or CFD.

(5) To make, execute, acknowledge, and deliver all deeds, releases, mortgages, leases, contracts, agreements, instruments, and other obligations of whatsoever nature relating to the Trust Property, and generally to have full power to do all things and perform all acts necessary to make the instruments proper and legal

BP’s podcasts, members, forums, community, and it’s book it published @J Scott “The Book on Flipping Houses” have been instrumental for us with the building blocks of our flips.We mainly started looking and making offers on properties from the MLS, but had no success, we actually were not even close to agreeing on a price in any of the MLS deals we put offers on. 

What's really cool is your not fighting the yoke trying to hunt for instruments as you have a clear field of vision.

This is always music to an investor's ears.

Now, a recorded contract (or the instrument you suggest) hopefully would keep someone from trying to pull a fast one like the person this person did.

Keep your message simple, clear, nothing clever, no music and let them know that their message is important to you. 

. :-)And the fact that the apartment rents are going up quite a bit is even more music to my ears.

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(x) The Deed of Trust securing this note shall be subordinate to a subordination agreement which will result in your security interest in the property becoming Subject to and of lower priority than the lien of some other or later security instrument.