I've studied doing this to do on my own more than anything though, not just JV. 

However, I discovered that Anaheim isn't allowing new short-term rentals and that the strict regulations in California make arbitrage nearly impossible.I then came across the assignment of contracts strategy and thought it could be a good way to generate income.

He had to tear out the entire chimney chase on the roof, where he discovered a rotted area that was letting the bats in. 

I started studying for my CA Real Estate Salesperson license as I initially thought that was all I needed.

As to any insight to offer for what it sounds like you'd be interested in doing, I do have one case study that might be of interest to you.

Went through 2 iterations of our plan with an architect only to discover it cost too much to build.Earlier this year we looked into a container home only to be shot down by the zoning commission.Construction costs have come down since last year so now we're looking at a very small stick-built cabin.  

There are advantages and disadvantages to house-hacking which you will discover as you go.

Study the market, get a local group together, and begin small.

If you're not getting to that, then it's more of a LIRP (life insurance retirement plan), which has long term goals.There are a lot of companies that do well with "getting the money in" then screw up the end game with the loan provisions.If you want, I have a case study for using a policy for private lending to other people. 

Bouncing payments or only being an illness or accident away from notbeing able to pay the rent, are issues considered by our underwriting.Letter Of ExplanationAny time there are credit issues or we discover an inconsistency, we require a written letter ofexplanation (LOX).