I have some money to invest but I don't qualify for a loan due to a spotty work record because I went back to school.  

Your missing out, the videos are really well produce and in HD quality.But the real bonus is the content of information that Andrew provides is really on Point.So if you have a few minutes of free time, its worth the time check it out.Cheers

In the end I decided to close on the HELOC anyways, but it was a good learning experience and the next time I do it (probably within the next 6 months on a foreclosure I just bought as a personal residence) I'll be sure to do a lot more shopping around.I think your best bet is to look for a local portfolio lender as mentioned above and if you're not ready to pay the prevailing rates for that kind of money consider going back to work full-time for a few more years as you complete a few more deals and build up your track record with the intent to find private partners etc.

Do I need to record such a document immediately, and would this document give me full access and rights to do as I please with the property?  

Based on County records it is worth about 65K.I identified the owner through County records but I have NOT contacted them.

We have track records of success and now seeking for working capital for more upcoming project.

The 'better' alternative is as @andy points out  to borrow from an independent party, with recorded security interest, proof of loan term compliance... all in an arm's length transaction.

Does your county have online tax records or gis mapping?

Should I physically go to the court house to view public records?

The lending entity then lends the money to the holding entity and a mortgage is recorded.