I would say it's a high risk / high reward play.

It's also the most rewarding work we get to do!! 

. + Religious, charitable, legal, educational, domestic, accounting services, architecture, engineering, surveying, and veterinary services. + Services rendered by nonprofit membership organizations for the promotion of the interest of the members. + Nonprofit educational and research agencies. + Public utilities as defined under Tenn.

we worked through the old owner and tried to get to the kids when ever possible.. all leads were leads until the logs were on the ground.. a few things we did to speed things up  were as posted above and pretty obviouswe set up 1031s  but hard to sell to an 80 year old who could not fathom how that could be legal.and a few did charitable remainder trusts  probably even more complicated and the ones' where we bought those deals I would say the sellers were pretty savvy folks not your typical tree farmer. so as many have stated whats the sellers best interest and your best interest is many times vis a vi taxation not aligned in any manner.

RE: your question about JV's we spend a lot of time with them prior to working together explaining what we do, ho we do it, the risks and potential rewards.

It is a higher risk higher potential reward way to buy property, but it can go wrong especially with a low number of purchases.

In your personal opinion, what is the best rewards credit card for business and/or personal travel?

Something to reward the behavior when your friends do send you leads

Different investors have different risk/reward profiles and that's what drives the whole range of the market. 

Tile is extremely rewarding to do.