Mom and DaD are already talking about me having power of attorney.

Consult an attorney and your tax pro for definitive answers.Unless you have something else in your hands, a deed of trust is just a legal document signed by the borrower which grants the lender the right to foreclose by power of sale in the event of default on the loan.

I know others will differ but there is an amount that, if you already trust the partner, will be more trouble securing with anything more than a simple MOU/Contract and Hiring contractor with a power of lien.Are you doing the work yourself?

They use the JP court and sheriff's department for enforcement, so they wield a lot of power.

Also, if the house appreciated 50%, in the second scenario you would have made 50,000$, 50% of the equity you have put into the house. those 50,000$ are 111% of the equity you would have had if you used 30 years amortization.So assuming these (perhaps unlikely) conditions, after 15 years you would have:15 years amortization: 150,000 in the house, 110,000 from the compounding cash flow = 260,000 gain.30 years amortization: 95,000 in the house, 500000 from the compounding cash flow = 595,000 gain.Just to show you the power of cash flow and compounding returns.

My realtor doesn't think the seller will go through that (it's a power of attorney sale - the seller is 96 years old).

It is free and quite powerful.  

I can see a cheap plastic material with built in quick connect fittings for plumbing/power being developed.

What type of Power of Attorney is used to authorize someone else to execute a deed?

Nothing exotic but another on-the-road closing...gotta love the power of the internet & dot loop :)Would love to hear of some of your stories of closing on properties in odd locations!