I screwed up on this a few times and had mechanics liens filed for multiple properties until I got fed up and made it a part of the system.

I am a real estate agent in NJ and I only deal with commercial.I can tell you that a commercial investor is a totally different machine than a residential (1-4 units) investor.1-4 unit residential properties take alot more effort(generally) to run and maintain but the investor has the opportunity to be alot more involved in their property than a commercial investor does, if that is what they want.A commercial investor generally does not want to be so involved in their property unless they are running a management company which handles many properties or unless they are an owner/user which has surplus space which is rented out.I suppose it depends on how personal you take your REI and whether you can deal with not being able to be involved in your properties everyday mechanics.

As a next step, the FDIC will test the funding mechanism contemplated by the LLP in a sale of receivership assets this summer.

Emphasis mine.

For example if you were a mechanic for the last 2 years then you need to find a job in the mechanical repair field.

Can anyone suggest any mechanisms that can be incorporated to reduce my overall exposure or protect myself in the event that the deal goes south? 

As an agent you will have an excellent opportunity to learn specific markets and the mechanics of a purchase/sale transaction.

When I personally value businesses, I put most of the emphasis on cash flow rather than revenue.

Then if you know enough about evaluating a building for mechanicals, electrical, and structural issues you may be able then to determine what deferred maintenance figure to use.  

Seller wants to ensure he will not be liable for debt should buyer default on paying contractors or third parties etc (i.e: mechanics liens).