The recording of the note assignment establishes the record of ownership, but it's really your operating agreement that binds the partners to performing from a financial perspective on the note after it has been purchased with regard to paying for expenses like professional services and such. 

1st I'd establish a relationship with a real estate attorney and/or title insurance agent.  

I'm not sure I'd do a seller financing loan to anyone at this point without an originator to create the file (except an obviously commercial buyer or established investor buyer). 

The good thing is, it is recent purchase and you are in a good position to establish your way of doing business with them and introducing to them your style of management.  

That said, I do volunteer work with local community organizations teaching classes on "Money Management Matters", "Housing Search - The Initial Inquiry and Interview", and "How to Establish and Maintain Good Landlord-Tenant Relationships."

Very respectfully, Andy

Daniel, need to check with your fund administrator with respect to related transactions if you are partnering on deals.Next, yes, expenses should be allocated to the property specifically as that reflects changes in your basis and income from that activity. 

It is also great for establishing your credibility and demonstrating that you're more than just a face.For example, you might want to: Introduce yourselfTalk about your experienceTalk about your wants and needsShare what you can offer othersShowcase your personalityShow off your propertiesTeach someone somethingAgain, this is only for BiggerPockets Pro members, so if you have not yet signed up for BiggerPockets Pro, you can do so by clicking here. 

With due respect, one flip is not enough experience to ask anyone to risk their retirement assets on you.

The Deed appears to be executed by the owners and notes the original deed amount that was established in 2006 when the property was purchased.