Quote from @John McKee: What are your successes, failures, and aha moments?  

Both units were filled at the time of purchase, but both had to be evicted a few months later due to failure to pay rent.

In some states, the Title Company would be responsible for paying the rent out of their pocket for failure to settle. 

I can also document that I have over 1,000 plus real estate transactions as an agent and an investor.I had two transactions that they just kept lying and telling me and selling me you will have CTC in a week or less, From each of those points it was more than 60 days.I begged loan officer and processor to be truthful.Their failure to close in a timely manner cost me dearly.

AS we see some GP failures there is another thread on this guy Lane Kawauka not sure how you spell it but one of his investors gets on BP and says they go dark..

You can't even sue him for Failure To Perform because your contract stipulates that he has 3 more years to prove that he can perform.After you wait 5 years and lose all your hair you finally get to pay an attorney $50,000 to sue the syndicator, but the project is an LLC corporation and you can sue only that corporation.

There were failures and bad decisions taking place by a lot of people.

So yeah, he set that one up for failure from get-go. 

You are not responsible for his failure to secure his personal property.

The worst is when a friend does a DIY sale then calls me after closing asking if they should sue the other party (usually for failure to disclose a known issue/ misrepresentation of the property/ they feel like they overpaid/ buyer's remorse).