friend acquaintance of mine is willing to lend me $10,000 at 15% if I will put her on Title to my property as collateral. I will pay nothing back until I sell my property. What are the risks in doing this?
No, it would not be wise at all. Name on the title means ownership. Once its there - only she can remove it.
Instead, you give your friend a deed of trust, which is conditioned by the terms of the loan. This way your friend (now lender) can foreclose on the property if you default, but she will not have any rights to the property in any other case.
That's how mortgages generally work.
If you're not in the US, the terminology may differ, but the general idea is the same. You do not transfer ownership to lender.