George also neglected to mention the potential issues of exit strategy that exist if one partner wants out or passes away. 

Is this issue common?

One of my business partners has a few in MWC and has never had an issue getting his properties rented out. 

With everyone contributing cash to purchase the properties I'm thinking it doesn't matter but I haven't found much information regarding this situation.Also, I've talked to a few mortgage lenders and they have said it shouldn't be an issue to refinance after 6 months as long as it is in an individual's name. 

Does RealForeclosure issue you a refund?

It's an old house and every house on the street has the same Lead Pipe and not having any issues.

@Joseph GastonMay not even be an added feature issue.

But that's a different issue. 

I bought a property in IL few months ago which I sold it to another buyer on seller financing (AKA Contract for Deed).The seller is going through some sort of financial issues and is not able to make this months mortgage payment.

I’m not sure how to prevent further issues.