We’re just at an impasse of what the next step could be to secure this property. 

So we are no way experience at all.Here is the info:- 3 UNITS - 2BD/1BA - 1 UNIT - 1BD/1BA- GYM ON PROPERTY UNDER UNIT 1- SECURITY SYSTEM IN EACH UNIT WITH 3 OUTDOOR CAMERAS- POOL WITH LARGE PARTY DECK- STONE FIRE PIT- SOLID SURFACE COUNTERTOPS- ENGINEERED WOOD FLOORS- STAINLESS STEEL APPLIANCE PACKAGE-Potential Rent Calculated to be: $1,800, $2,700, and $2,800.As a noobie investor looking to get experience, I thought I would help my father move down and help run the property, find tenants, market, manage, etc. until I can systemize it and move back to Boston, MA (where we are currently located).

How do I follow through with the transaction and keep the property from going through the foreclosure process to secure the investment for me and the other investor?

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

In general, I’d highly recommend reading a book on syndications and speaking with a securities attorney. 

I am trying to refinance to secure a lower interest rate and pull out some equity.

I gave them a brand new SimpliSafe security system to install in a vacant house.I also paid them 1/2 of the rehab estimate to get the work done.

ROI is too low and to high risk income security wise.

You are also allowed to discriminate against people who are rude, messy, or can't come up with first/last/security at lease signing.  

A better way in my opinion is a promissory note secured by the property and title transferred to you.