Since we have all documents signed, and nothing recorded or funded at this time, they are clearly going to have some legal issues if they don't make it happen today.They claim they have not recorded yet as they wanted to insure things where as advertised...

The app is: Free PDF to Audio Offline - Reader : Professional Read of Your Text Documents - Fast & Stable by Peris Copehttps://appsto.re/us/ZhUYab.iIt's not great, and the voice is very "Siri-Esk".

Last I heard, the broker said they hit a "snag", and he is transferring all the documentation to another financing source.

I also tend to think most JV's are not proper joint ventures and are more like two folks, albeit entities or people, trying to work on something with a very loose document tying them together.  

My biggest tip for you is to be super organized and use software that can help you keep track of prospects, tenants, property information, legal documents, you name it.

You lose 6 months time of cash availability (perhaps 4.5 months since it does take time to get the refinance) where you may have been able to buy 2 or 3 more properties in that same 6 month time frame using my method rather than buying with cash.With my method I pay no lending costs with my first purchase since I use loan documents already created by an attorney for another loan for which I participated. 

Sorry Bay Area readers, your $1.2m fourplex house hack will still need to be FHA 3.5% down w/ FHA MI.You will sign a document promising to live in the home for 12 months.

The latter half of this document you should utilize the principles involved in the second part of your question – how "could" this property be doing?

Be very aware of your surroundings, definitely setup a way for your renters to submit payment to where you don't have to physically collect.  

If buying your land is part of a bigger project than usually there is language you can't tell anyone other than your legal counsel.The developers doesn't want people getting wind of  a project early on because these land investor squatters will try to buy properties up and then tie up the project asking crazy prices for the land.The developer already wants all the land controlled before they submit their site plans for zoning approval.