Frankly we haven't had enough turnover for it to be much of an issue.

I am a more conservative investor, so I would budget 40% expenses which gives a buffer for unexpected issues and eases my mind :)

The other thing to think about is dual agency issues if you have your agent write the contract, since the agent won't be able to be a fiduciary to both sides.  

A private family lives there, and traffic issues abound.  

George also neglected to mention the potential issues of exit strategy that exist if one partner wants out or passes away. 

Is this issue common?

One of my business partners has a few in MWC and has never had an issue getting his properties rented out. 

With everyone contributing cash to purchase the properties I'm thinking it doesn't matter but I haven't found much information regarding this situation.Also, I've talked to a few mortgage lenders and they have said it shouldn't be an issue to refinance after 6 months as long as it is in an individual's name. 

Does RealForeclosure issue you a refund?

It's an old house and every house on the street has the same Lead Pipe and not having any issues.