I live in Houston where this setup seems relatively common but am not sure if that comes with tenant issues around a shared yard, etc.Thanks!!

Very common for the lockout policy to be outlined in the lease.

Commonly, not always. 

It is a small urban town so crime in urban areas is common but I'm not afraid to walk around. 

If all three of you owned the property as tenants in common and each of you reported the activity of your % of the property on your own tax return then each of you were the tax payer for the property (your % only of course).   

Not impossible, but far from common. 

The property is in a foreign country (EU member) that does not seem to offer the kind of cost segregation studies that are common in the US.

They are not wanting these on Loopnet, but I think I am going to just try to get them to allow me to post there at least as that seems to be the common thread.

This might “expose their potential violation of their lease with the landlord, if they forbid extended stays by overnight guests who are not listed on the lease.The most common scenario highlighting this pitfall happens when a family member or friend allows another family member or friend to move in with him or her, sometimes accepting rent or help with paying utility bills, sometimes not, and the family member or friend who has moved in either stops contributing financially or refuses to move out in the time period agreed upon.

It’s very common.