It provided a level of comfort for all parties.  

Totally forgot about the title/attorney part.  I

Typically this is when seller offers to pay closing costs on REO properties (HUBZU being the primary source of this annoying process, the extra party can cause excessive lead time when minor issues arise such as closing date shift or last minute credit grant).

It has to be a strictly arm's length investment, and most self-directed IRA custodians will require that you hire an unrelated 3rd party property manager to ensure it stays this way.  

You stumbled upon the greatest of greats and the best part is... you will never feel alone again.

I'm concerned that without a new signed document from both parties when move out time comes I may have no recourse if there is damage that happens from this point forward.  

At least two banks I've spoken to, are comfortable with the 25% downpayment coming from 3rd party funding in a secondary position.

The getting into debt part is also not something that is exclusive to gurus, hell, there are 100s, probably 1000s, of posts on BP forums promoting the same type of strategy that they use.

It was not listed as a Fannie/ Freddie/HUD Not sure why offer of 1st party was disqualified..

This essentially lets you and the borrower set terms that are agreeable for both parties.