By showcasing the mutual benefits of my offer, including a quick and seamless closing process, I was able to secure favorable terms that aligned with my investment goals.

You need to look for a Securities Attorney (not a real estate attorney)As @John Sayers mentioned, you can get ownership with a GP by doing other things, like bringing the deal, asset management, data research, etc.

Readers should seek professional advice.I believe the Note creates liability for the loan, the mortgage creates a lien on the real property that secures the debt. 

No security deposit either. 

I am wondering if the interior stairs are typically removed to allow for more sq ft in the basement unit as well as greater security  between the two units?

I only have savings accounts for my security deposits.

Securing financing for a property without current income can be challenging, but there are specialized lenders who focus on the asset's potential rather than its existing cash flow. 

Just trying to find out how to secure remaining 20% for seller

What do you use for your remote security setup?

Others 15 yrs, etc.So we depreciate a portion of the asset costs faster.We do the study and get dollar amounts assigned to different parts and different schedules to front-load depreciation.Now you can get 5 or 6% of the value as a deduction in the early years...But wait... there's more.Bonus depreciation allows you to deduct a certain percentage of cost in the first year an asset is put into service.Anything that is on a schedule of 15 years or less...So the doors, sidewalks, HVAC, walls, latches, curbs, security, gates, etcA % of this stuff goes in Yr 1.For years 2015 through 2017, first-year bonus depreciation for these items was set at 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019, 0% in 2020.But then the Tax Cuts and Jobs act moved this percentage to 100% from 2017 to 2022 and 80% in 2023 and 60% in 2024.Its not uncommon to allocate 30% of an asset cost to items that can be depreciated on a 15 year or faster time frame.So now 60% of that 30% of your asset's cost can be depreciated in the first year, excluding land.Pretty great.This is how real estate owners, investors, and operators make millions and pay very little in taxes compared to W2 employees.They pay even less and can offset other types of income if they are an RE Pro.