He was overwhelmed at first with all the "insider" stuff: the 1031 exchanges, cash-on-cash returns, and figuring out what an ideal cap rate is, especially in a hot market like Dallas.

I have my eye on a cute little two bedroom to rehab for my mother in law.

Expensive markets can be a challenge, but here are deals to be had, depending on the amount of work you are willing to do.

Can someone please let me know the mechanics of the recording process on an owner-financed deal?

If you aren't sure who to choose from, ask each of them for a meeting/consultation to break down your goals, the market, and the acquisition process.Once you've selected one, have them draft the offer for you and take it from there.The best agents are responsive, knowledgeable on the local market, have a strong supporting team (i.e. lenders, title, inspectors, title, etc.), and know how to put together a deal.As @Michael K Gallagher mentioned, you'd want to clarify whether or not your agent is also representing the seller.

I grew up with a realtor for a mother, but she’s not too well informed on new construction.

Any advice on the steps to do this is appreciated.

I confirmed that his parents had no debt on the property. 

Welcome and congrats on taking some action.

Any recommendations for institutions that can extend a line of credit backed by a whole life policy?