I've just done the work myself: get a judgment, file to have wages garnished, place liens on any property they may own (I've had some people come up as being on joint title on a property).Some people will sent up a payment plan as soon as the sheriff shows up to serve them with papers because they're so embarrassed!

Unless the seller/lender is added to title as a joint tenant, which would be downright stupid, the only other way they are “getting the property back” after the death of the buyer/borrower would be to foreclose and be the high bidder at the auction.

Quote from @Tiffany U.: My dads house was in that area an I had it listed with section 8.  

I came to the realization that joint venture partnerships are an awesome strategy.  

PS since I work as a capital partner just like the guy your using now. there is huge benefits compared to borrowing from HML or PML.. the benefits are basically if the deals start to wobble you have much more flexibility to work them out with your capital partner then U do a HML PML who wont show you the same flexibility.. mainly because they cant they are tagging their wholesale lines and there are rules for using them that your simply not aware of as the end buyer but will become very aware of if a deal cant be paid as agreed for any reason.  

I'll check out U ofA Parents.

u probably have federal laws Dodd frank and maybe state laws.. for sure dont trust the internet.get with a lawyer in the state the properties are at and double check.. you will sleep better.

im looking for someone to do some interior work in Winston- Salem, do u know anybody?

My business partner and I already set up an LLC and we are looking to start acquiring RE with two other individuals through a joint venture type setup. 

You make an inquiring call & then get a find a buyer agent who will put u under contract.