What are some drawbacks to having a wingtip propeller on an aircraft?
Feathering isn't really an issue, if you can feather a prop on an engine further inboard you can do it on the tip too. There are 3 major drawbacks that come to mind:


The wing structure has to be stronger: engines are heavy, the further out they are the beefier the structure has to be to hold them. Stronger wings mean more weight and possibly a thicker cross section. Neither are good traits in a wing
Decreased roll rate: the farther the engines are the greater the moment arm and the slower your roll rate will be. Think about skaters spinning around, the farther their arms from their body the slower they spin. The same principle is at work here, so you need bigger ailerons to give you maneuverability, so more weight, cost and complexity
Safety in a single engine failure scenario: engines on the wingtips will cause more yaw in a single engine failure than engines further in board, so you'll need a bigger rudder to counteract it. A bigger rudder means more weight and cost, and there are also limits - eventually you will get to the point you can't counteract the force effectively and an engine failure will cause a loss of control. Yaw onset will be faster as well, giving a pilot less time to react, and there's nothing you can do about that; a bigger rudder doesn't help with reaction time. Mechanical cross-connections could be used to share power across the wing in the case of a single engine failure, like the V-22 Osprey, Chinook helicopter, however these increase weight, cost and complexity. Also, these systems aren't perfect, a single engine failure is still a possibility