However, it may be beneficial and more convenient for them to do so anyway.I would have to assume that the cost of the tax preparation should be built into the maintenance fees. 

its just like taking title tenants in common on a property.. only they are taking the beneficial interest as to a % of money putting in.. in CA in my HML days all our loans were multi bene..

Knowing that some other people are doing a similar thing it would be very beneficial to come to one of these meetings.

I made the old tenant sign a mutual termination letter so that I can lease the property to the new tenant before the original lease end date.the property is going to be vacant for 15 days as the new tenant is moving in In middle of the month.I have a doubt...

If you make a mistake on either of those two numbers, the strategy may not be beneficial.

We go really cheap on some things, like paint,  towel/toilet paper holders, and go higher end on things like faucets.. as others have mentioned, it's an art and you have to find your balance.Also... so  many people forget-- this is someone's future home, this isn't a mutual fund/stock, so you need to focus on what things will make your tenants happy! 

Whatever you decide, investing in syndications and investing directly in real estate aren't mutually exclusive. 

Would it be beneficial for him to sell before foreclosure (via short sale)? 

Are you talking about individual stocks or mutual fund type investments?

It would be odd/silly for this contingency to run all the way up until the closing date, but I don’t know how you guys do things there.At the least, I’d communicate with the sellers letting them know the sale of your house has fallen through and it seems highly unlikely you’d procure another buyer and close by your contract date....doing a mutual release now would be beneficial to the seller so they can get their house back on the market.