@Jibreel HameedI believe you may be able to make this a profitable venture without rehabbing. 

So I’m being cautious as I venture out on my own here.

Real estate investing is not a learn as you go venture.

Mostly SFR/townhomes, beginning our journey into other real estate related ventures now.

Personally, I don't like long term partners, but I love shor-term joint ventures.

Would you make this a solo venture and accept that mistakes (i.e. learning opportunities) will be made along the way?

@Callum Sinclair , As soon as you and your partners start this venture, you are considered to have formed a partnership.

I just did one for a Joint Venture client at https://www.biggerpockets.com/forums/600/topics/58...and you can kind of get a feel for how it is done.

My next steps (that I've identified), is to start writing down goals (we've discussed them, just haven't written them down), develop a business plan, and figure out if I need to start a business for this venture now (and what structure that will be - we will not be taking on partners initially, I think, so it's just me and my husband, so SMLLC?)

Opens doors to work for yourself even just for small ventures on the side.