Those type of larger tenants take a long time to commit to a new space or move a store from another location.

Make sure you also choose an attorney who is committed to providing quick responses and open communication so you feel like you are in the loop at all times on the legal end.

I think most of you will agree that having your partner / spouse commit to supporting is a big thing. 

The city includes plans (commitments) to build new firestation, police station, and green space in my area with the casino revenue.

This means that you and your wife will not have to move in and live there for a year (could be a good idea or not, I don't know your family situation), or commit fraud by claiming that you will move in, without actually moving in (bad idea).It's one of my favorite programs because it's essentially Karma, doing its thing.

Qualities that make a good partner in investment areas are motivation level, commitment capacity, communication skills etc.

Not sure what the NJ contract says but in FL the verbiage is "Buyer shall make mortgage loan application within 5 days after Effective Date""If Buyer does not receive Loan Commitment by Loan Commitment Date, then either party may cancel this Contract "If you have not provided a Loan Commitment (this is different from a prequalification), you should be able to cancel without forfeiting your EMD.If you are fine with forfeiting your EMD then you can cancel without using contingencies.

The hassle of trying to raise $5k and deal with a partner just doesn't seem worth it and I would question your commitment to the deal if I were your prospective partner. 

Of course I'm not sure this would go under that category because the home owner didn't fully commit yet. 

Do you think we can have a separate contract between partners committing each of us to each loan even if the loan is on one partner's name?