This is the common issue with most TICs is that all TIC owners end up signing loans with personal guarantees.

Where right before the sale happens the property is quit claimed into the members personal name as tenants in common.  

The most common pathway from where you're currently at with your property is a cashout refi to stabilize it and to pull out your capital for the next project.

Backstory: two luxury cabins in the Rocky Mountains, each sleep a max of 16 but 8-10 guests is more common.

We may habe high property taxes but our rents are high with increases quite common, and insanely low vacancy rates.

And this new banker asked me How did I know Mike as it was not common for him to deal with guys our size.

Is this a common practice or are there rules against doing so?

@Kenneth Soles  I have done this too many times to count.and after all the years of dealing with folks that lost their home be it tax foreclosure ( very very rare on the west coast by the way)  or Trustee or Sherrifs sale ( most common).Rent back can work but usually turns into an eviction shortly .Sell it back is another pipe dream.. unless your willing to owner finance it.. then you have the dodd frank stuff if you want to be letter of the law compliant.

common sense tells me it would be the same thing, but can't find any concrete info on this. 

Mike when I first got on BP it was common and I believe encouraged ( to stimulate growth and participation) that you had what I called welcome wagon posters..