I am expecting items to be found even though there is no visible signs of any issues.I will not be surprised if in the near term the prices fall a little.  

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

How much time / cash / other are each individual expected to contribute?

So essentially you can't really judge if the opportunity is right for you because he wouldn't tell you anything about what you could expect down the road & by time you got to that point it was past the time to get your refund. 

Now, you need to figure out how to find deals and pay for them.

Are we expecting a recession? 

On the "most will not cash flow", I meant it as an expectation of rates vs. output.

Now, you need to figure out how to find deals and pay for them.

Expect delays and unexpected expenses: No matter how straightforward the project seems, having a contingency fund for emergencies is essential.Your Team matters.

I would just set that expectation up front.