I saw this sold here.

You and this private person you met hammer out the details of the loan at the kitchen table so to speak and you seal it with a handshake and your reputation that this Private Person already respects or whomever introduced has vouched for you.But if a man opens a lending company tomorrow with 50 Million of his own capital and he checks in on the HML market to see what it bears and he copies his products and UW guidelines and now is he PML or HML? 

Get a copy of the agreement and review every word of it.

I would think that a notice with the addresses and legals of the two properties, including index numbers and such, attaching a certified copy of the name change order to each notice, should be sufficient if recorded against each property. 

Yes it's definitely legal, and I've sold a few this way.

One land speculation I bought 4 acres in sonoma County CA ( wine country) in 96 for 27k it was unbuildable at the time ( could not get a septic system on it) Well city grew to us The Graton Casino comes in right across the street and we sold a few years ago for over 2 mil to a land assemblage investment company.

and i speak from experience on this end I bought over 250 C Ds coming out of the GFC in the mid west and deep south.. it was as you describe 2 steps forward one backward.. after two years and coming to same place you are today I sold out to my partners and let them take it.

Now, you don't dare take a chance on someone that shows any sign of being a risk.You've been sold down the river by politicians whose only desire is be re-elected. 

You can clearly see the fruits of your labor are paying off to how dialed in and sold out you are.

What you have to do is purchase at least as much as you sold and use all of your cash to do it.