I am gathering the lease is signed by all three together and I am thinking they are jointly responsible correct?

@Dewayne Gammel In the past few months we have had several threads going on Joint Ventures, Partnerships, etc.

If you treat it like a business, they will too.I am going to set up an ACH system at my bank so that they can opt to have the money withdrawn from their account on a certain day of the month.

There may have been no need to go through probating the estate, if the property was jointly owned (both the man and ex-wife having their names on the deed); in many places, there is the notion of joint ownership with rights of survivorship, so that the passing of the one co-owner leaves the property to the remaining co-owner(s).Now, the possibility that the ex-wife put other names on the deed complicates matters - they now have ownership interest.

I was going to focus on wholesaling, but right now I'm working the joint venture deal angle and looking for private money lenders.

It's a 3 bed/2.5 bath colonial with a pretty open layout (considering it was built in 1969) which would have to go one of 2 ways -1) HELOC it and do a total rehab then list and sell for top dollar, pay off HELOC and use proceeds to fund this "joint venture"2) Sell as is, which is def going to be 50 cents or less on the dollar compared sold comps in the neighborhood (anywhere from 300K to 500K) and use proceeds to fund this "join venture"---> I'd love to hear pros and cons to both of those points <---From an investor perspective - what is the best way I should approach this?

Or you could could have a separate joint venture agreement, that handles when he gets paid.

What would you recommend far as meeting someone familar in the area and joint venture if I'm in cali?

If you have a joint bank account as an unmarried couple, thinking you both contribute to pay expenses and collect rents in it, the other person can empty the account and leave town and you don't have much recourse.

A friend of mine who use to work for a title company suggested that I contact other wholesalers for possible joint ventures.