Worst case scenario even if something does go wrong you can just not sign the cancellation.

There is a temptation to model every possible scenario but, in truth, it should be balanced with reality.

LNAs are fairly common. 

Hit a snag in my investment goals :Scenario ;I have 85k Saved to invest I made 6 figures in 2018 Have 60k in equity in my existing rental property in Nassau county New York Good Credit BUT ....I lost my job last month and I’m concerned lenders will give me a hard time for not being employed, although I do have a small business that is brining me at least $3000 a month in profit.

Instead they permit a certain amount of occupants based on how much common area is in the home (kitchen, living rooms, dining rooms, den).

If you are purchasing a large property with a planned reno, refinance, and sale horizon you should run scenarios to make sure you can stay ahead. 

A very common business model for HML is to promise the world, get everyone into escrow, get everyone to apply and pay for an appraisal......then cherry pick only the very best and safest loans to fund, and find a BS reason to deny all the others.

So not common but also not rare.

If current title is tenancy in common, then both your grandmother and mother will not be pleased to hear that their estate will be subject to probate.

The nightmare scenario that this sometimes leads to is that our original tenant leaves, the ghost tenant stays and then you have a real mess on your hands.