Through research, due diligence and education you will be able to take calculated risks that should generate great returns.  

Which means the lender doing the 20% down payment will have a second, with no equity, and a borrower with no skin in the game (which means a giant risk for them).

The risk is, if you don't give it up and let it go to a foreclosure and they have to pay attorneys with money out of their pockets.2.

Recently, I was fortunate enough to be involved in the ground floor start up of Invitation Homes (INVH) which finally went to the public markets this past February.

Now you run the risk of the bank calling the loan due if they find out about this transaction happening and if you quit claim deed a property off market then you might have problems with the sale of the property and more signatures may be required by the old owner in order to sell and you will assume any liens/encumbrances the old owner has you might miss since you didn't have a title company transfer title.

If so, What are the risk reductions for reaching out to an attorney? 

How is the risk generally distributed? 

If there is too much risk then I will back out of the deal. 

As well, keep in mind that the other investor's risk tolerance will be different from yours.  

I haven't exactly forged an empire that will create generational wealth. ... but I evaluated a deal, made a pro forma, and decided this was a minor risk I could afford to take, but it feels so much bigger than that.