There's still risk but at least everyone has an interest (and obligation) that is evidenced by paperwork that can be enforced.

If you forget, you face massive fines.In a small partnership, you might be redoing this paperwork quite frequently. 

Financing is approved just need to sign the paperwork.

And agree on the extra paper work too. 

I agree with Aristotle-get paperwork in order now to ensure when the time comes, you have less to deal with.

The NAR settlement was ridiculous and has only forced agents to do more paperwork and disclosures, but the vast majority of us are still working the same way.The law requires the agent to sign an agreement with you.

A syndication requires an attorney, about $15,000 in legal fees and paperwork for a PPM.

When I asked what happened with the applicant, they took weeks to inform me that squatters had moved into the property. 3) When I asked for a copy of the court paperwork they had filed (to ensure they were actually doing something about it and to discuss with my own lawyer), they reassured me vaguely they were taking steps while they moved slowly without telling me what exactly they were doing.

Is it just paperwork?

Being a Section8 HUD building, there was an immense amount of paperwork and due diligence that was required.