Excellent news. 

Yes, you may end up "paying them more", but when they are sharing in the equity their win is also your win, so they are likely to work harder and do things a little differently when they get a direct benefit from it.  

@Luka Milicevic makes an excellent point: the Greater Nashville area is tough on rookie investors because housing prices are too high, rents are too low, and it’s hard to find deals that pencil out.If you’re open to investing in areas outside (but still close to) Nashville, I’d suggest checking out Chattanooga.

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A win win. 

Some are glorified fee takers and any cash flow or equity return on the property is icing on the cake.I like it more when the fee is just a small component of the deal and the syndicator wins more when their passive investors do on the back end.

DTI and Credit scores are excellent and the property has been owned for more than one year.I realize that there is a "Find a Lender" function on this website, but I really don't want to be spammed with marketing emails. 

Hello everyone,
How do I get a property in foreclosures to live in? I know you need cash to bid. Does any lenders does that? how do I get foreclosure listing? 

That would be his issue with his lender.You would have the option of forcing him to complete the deal, he then has to work out the problems between himself and his lender, that is none of your problem or business.Have your attorney or the real estate agent's broker send a strongly worded letter as a warning about the consequences ( a lawsuit he is unlikely to win).

After winning the #1 Party school in the country one year,  we were suspiciously absent from the list the follow year.