I really just wanted to see if there is anyone out there with positive or negative personal experience.  

Personally, I'm not a fan, but I could see why some people like it. 

 TREC sale contract signed by buyer and seller.Buyer put a Memorandum on the property clouding the title stating the date of the contract.

The lawsuit includes claims for breach of contract, specific performance, and trespass to try title, and the case is registered in public records.Additionally, the lender has initiated foreclosure proceedings on the property due to Seller Z's default on payments.Is there any action I should take as Buyer A?

Me personally, it took me a while to understand what the expectations were for rentals in my market for different classes of rentals and it was much different than I would have expected at the beginning.

So if it’s a $10 million deal and we are using 50% leverage then the capital raise is $5 million my partner and I will personally invest between us $500 - 750k into the deal under the exact same terms as the other investors.   

It's generally a good idea to keep rental income and expenses separate from your personal finances.

The presence of the wiring was noted a week or so after we were in contract, but I also assumed from the start that it may come up on inspection due to the age of the property, and its location.

From CSLB:This section defines what an owner-builder is and the laws surrounding the practice.An owner-builder is what the term indicates: a person owns the property and acts as their own general contractor on the job, and either does the work themselves or has employees (or subcontractors) working on the project.The work site must be their principal place of residence that they have occupied for 12 months prior to completion of the work.The homeowner cannot construct and then sell more than two structures during any three-year period.Getting a GC license and going Legit is pretty difficult.

I see it's under contract.