Our attorney say that it would be far too difficult to structure it in a way that the note changed based on the rate change on a month to month basis (and we agree).

This is an easy answer for me, since in a way, I start over on a regular basis.If I had nothing, and this includes no knowledge, I would start by:1 - learning: A - How money works, B - How to analyze markets (as in zipcodes), and how to then find Micro-Markets2 - Then, I would develop a plan of investing based on the two Core Knowledge Bases above.3 - Next, I find my money, as in cash partners and credit partners, all to be implemented on a project by project basis.4 - Now, I camp out in the market(s) I found in step 1, and invest following the plan I developed in Step 2

Was the basis for the quiet title that the mortgage had been abandoned?

That said, I don't have a lot of experience with locksmiths so don't really have a basis for comparison. 

If you want to be independently wealthy in 3 or 5 years you have to build and execute a plan for that...likely that comes with a bit more risk than I would like but people do it every day.

on your house, but your basis for the new purchase will be $0.  

After running the numbers, even at full price I should get a small return on a monthly basis.

The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (IRA LLC) must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2016, the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

Whatever you do, TAKE ACTION..You can never learn it all and sometimes we over analyze...I learn something new everyday...GL

., the opportunity for tax basis shifting is so great that the IRS scrutinizes these closely.