As far as the joint venture, you can decide if you want to do a true joint venture, where you get a % of the deal for being an investor, or you can just get interest on your loan.

The courts would see right through that attempt.I'm also not sure if marriage implies joint ownership or not (marriage laws are crazy and vary, so just something to ask your attorney about).I second the usefulness of an umbrella policy as well as, of course, being aware of your local rental laws, requirements, and regulations.

Hi LorenzoI can help you sell the property if you want to do a joint venture with me.

Also, I am trying to model this out in a spreadsheet, if anybody has one , i would highly appreciate if u can share.

On my most recent purchase, I got 2 silent partners to come in, in a joint venture. 

We listed 4 at the same time, all went U/C in a matter of days, all over asking price.

If your month to month land lord owes u nothing.

@Chris Seveney  that's interesting.. lets say you buy a rental for 100k with minimum down  20k.you make 150 a month cash flow ( realistic numbers unless you value add or get some smokin deal)something happens and you need to sell in 5 yearsyou bought for sake of argument in a non appreciating market as many on this site admit they are fine with.. now you go to sell.. 60 X 150 a month = 9k   you have 10k in sales costs.. figure 6% plus closing cost plus seller credits and honey dews on the house plus it makes the math easy.so you net 90k  add in your 9k positive cash flow your at 99k... so just about break even but now your had to recapture 15k of deprecation and pay tax on that lets say 5k for easy math.. so now over a 5 year hold your 150 a month Coc really has a negative IRR since you lost right at 6K of actual cash and your only gain is whatever little principal pay down you got on your longer term note.Do you think I have that right.. only reason I bring this up is I sold a bunch of my rentals and that recapture hit me hard personally.. but I just wanted to reposition to notes as I am not a very good landlord..I think this is why if you think my numbers are correct.. that folks need to accelerate pay down so that you can pay these off quick so if U do need to sell and most people sell every 7 years stuff happens they have some true equity. or at least some cash coming out of the deals.

Don’t worry about justifying it.....the seller’s of these notes know this better than u do.

I think every real estate investor wants to be a full time guy because this is very enjoyable, there are lot of pros to being full time, here are some of the cons you should address 1) Finding the deals - As long as you are a passive investor if the math works even a 100$ cash flow a month is okay on the side, you can buy your properties from MLS but when u are a full time investor you need a lot more cash flow and lot better deals.2) Sourcing Finance - Banks look for W2s when you ask for money, you should be lot more creative and risky as a full time professional to source funding.3) Market Cycle and Current Market - Markets will cycle and as much as I know most areas are turning into sellers market with low supplies, how do you tackle that?