Unexpected medical bills, chronic illness, catastrophic emergency and more are the leading causes of foreclosure. 

If the tenant has weak liquidity and net worth you need to look at if the space went vacant would it be desirable to land a national tenant or are you stuck with a mom and pop tenant again?

A" product is much more desirable than a B or C product that carries more risk.Most "A" product is owned by national corporations and leased by national tenants except for a few mom and pop spaces.These have a much lower chance of default with corporate guarantees and thus a lower rate.B or C product in suburban to rural areas is even more at risk than urban cores for lending.In many markets Multifamily and Hotels are in a buy pattern and lending is strong as most lenders see low risk at the prices buyers can purchase for.Hospitality sectors such as lodges,water parks,ski resorts are still getting pounded with a slow recovery.Industrial still seems to be doing well in many markets.Retail and Office as still seen as very weak and risky for lenders unless you have a strong B to an A product in urban cores that have already started to recover.

Most rehabbers would say the numbers at full list are too weak and would try to get it under $100k (if your rehab numbers are accurate).Yes, an EMD of at least $5K is highly recommended.

It was fairly dark, much about our economy being a multi-bubble economy, the weakness in housing for various reasons (including the 50% or so cash transactions and the REITs buying up quite a bit), and inflation scares, our massive debt problem, the impending meltdown of the dollar, politicians being inept, and the prescription of getting out of real estate/bonds/securities and getting into gold and inflation-based securities, etc.

I assure you, I am in the city 3-4 times a weak(Not just downtown/midtown) and I do not carry a gun and have never felt the need to.

If you are not filling the void of each other's weaknesses and enhancing each other strengths the partnership will be stressed over time.Is your partner just the money guy and does not want to do any work and is very interested in getting involved with real estate but is really just wanting passive income from the benefits of REI, thats fine too but know that he is really a money partner, which is also important but that would mean a different type of partnership and different expectation of you. 

I'm not going to let that get me down and will continue to feed the pipeline and utilize my strengths and improve on my weaknesses.

They have a pending offer but I think it's weak.

If you want to make weak offers, use anyone.