Yes, they get their house back if you default, but that costs time and money to perfect. 

The Deal - Have you drawn up a written agreement with your friend so that both of you are clear what a 60/40 split means?  

We all want an easy way out and the perfect solution.

A perfectly clean lot , and then cars come in from the street and the snow and water drips off the car and refreezes .

Sitting here in the process of being snowed in, it seems like the perfect time to ask...What are the timelines/rules people use for snow removal?

This sort of bait-and-switch-but-oh-too-late-you're-on-the-hook-LOL tactic is a perfectly common (and unfortunate) mortgage industry tactic in all of the following scenarios when you are working with the "preferred in-house lender" of the following entities...Turnkey providers.

Two sat around the leader told me my window is not perfectly square.

Perfect timinghttp://www.blackdiamondrealestateinvestors.com/

Even if a property is amazing, pristine, in a perfect location, it won't matter if the team managing it isn't on the ball.

Also at the end for the day, the water heaters I have had fail, simply had a slow Leak in the basement and continued t function perfectly without any damage.