They may be called rent credits or additional option consideration as recommended by your attorney.

You need to make sure that your exit strategy is TIGHT.I would personally get money from the buyer of my contract and let it be held by the Title company or attorney which ever your states uses.

RE attorney in that stateRE agentTitle/Escrow companyProperty management + at least 1 back-upLenderHome InspectorCPAContractorHandymanInsurance agentAnother investor in the area (possibly), or mentorThis list includes most but possibly not all.The key is having the knowledge and experience to know what questions to ask during your interviews with these potential team members, the ability to properly negotiate contracts, and knowing how to handle or avoid some pitfalls (too many possible to list here)

Plan on getting to know legal aide attorneys.

Having said that, things could be different in the People's Republic of California, so you probably want to check with your attorney or another experienced investor in your area.

Banks will look at all credit scores that are involved but your business plan, ability to purchase good deals with low LTV ratio's and the fact that the other members have stellar credit will all be looked at and also taken into consideration.The idea of having a few "senior partners" with more share in the company can be done, so long as the other "non senior partner" agrees with the terms.Which ever way you choose to go, you MUST have an iron clad operating agreement written up by a competant attorney.

However I guess they forgot to tell their attorney and surprise surprise, my timeline just got cut way short.

As a Real Estate Broker, buyers always question our motives, just like Attorneys, but if you trust the agent and he or she tells you this is what you have to do to get what you want, all you have to do is decide, remember there is a reason we do this for a living.

If the Lender cannot prove they have the legal right to foreclose Attorney will pursue a "quiet title" action to remove all debt from the property.

I agree you really need to speak to an attorney.