Managing contractors, unexpected issues, big asks from sellers, or a turn in the market.

Also, one of the most often overlooked components of a syndication is the reporting.

It is rolled into the installment sale, just like the appreciation component of the capital gain. 

Principle, interest and escrow are not the only components of total debt.

This property was built in 1936, and even if you're budgeting $30,000 for rehab costs, you'll need to save a certain amount every month (I'd say 10% for each of those 3 categories) every month for future, unexpected repairs or for when a tenant moves out in the middle of the night. 

I have resorted to Wal-mart & Amazon for a lot of Pex, Electrical components, LED lighting & other tool etc supplies.

And in terms of credit, although I have good credit, I know that there are many more components that go into your credit score than just 1 number.

No matter what you do, buying a property with a value add component, having ample cash reserves, having good financing and having immediate cash flow will help minimize your risk.Here is an article I put together on what to look for when passive investing: https://www.biggerpockets.com/member-blogs/10145/83067-limited-partner-s-guide-to-investing-in-the-right-deal

And you'll have new cracks in unexpected places, old cracks that will not close, but instead enlarge.

Understanding debt component is vital to deal-making as it will provide you with the confidence in your financing to give the seller assurance you can close the deal.