To what extent will the parties be free to carry on other businesses - while the joint venture subsists- if one party pulls outIs it intended that spouses/partners should also be shareholders, to allow for tax advantages from a broader split of dividends?

so anyways what's the broader wording..

Seeing that it’s your first property and just as a suggestion, why don’t you start with a 2 family and get your feet wet first before you go “all in” on a big project.Smaller properties tend to be easier to manage, easier to fund if they all go vacant, and if you find yourself thinking - naaa, I hate this I want a boat instead - you’ll have a broader pool of investors or house hackers that would want to buy it from you.I never thought I would like single family rentals, today I love them – 20 years ago I couldn’t understand who in their right mind would want one, I wanted bigger properties, perhaps it’s an age thing.Go to your local Rental Property Owners meetings, network and find out what the guy’s and girl’s in the trenches say about both, then keep us posted.

But the broader point is, real estate is not a get rich quick scheme.  

Typically the smaller HOA must abide by the larger ones broader rules (AND has their own as well), but has access to pools or other amenities belonging to the larger HOA (thus spreading the cost over far more Owners to operate the amenity).

This action guide gives you everything you need to overcome analysis paralysis and buy a property within 90 days.Set For Life by Scott Trench: Written by BiggerPockets’ CEO, this personal finance best-seller instills healthy finance and investing habits to set you on track for early financial freedom.How to Invest in Real Estate by Josh Dorkin and Brandon Turner: If you’re not sure which strategy is right for you, this book gives a broader overview of many strategies to help you choose your own investing adventure.

Feel free to throw this on another BP thread if you want a broader community opinion on this.To answer your question about why I'm choosing Memphis: it's really a matter of convenience.

These factors can often indicate a healthy real estate market with potential for long-term growth and appreciation.In addition to these broader factors, I would also consider local regulations, tax policies, and other factors that could impact your investment.

The scope of it is arguably broader.

I understand your boredom but I strongly encourage you to really take a broader view and see just how good you have it and if you stay on the path you are on, you truly will be retired young and have freedom of time and money to do anything you desire in life.