For your specific question about doing a JV on the loan, my suggestion would be that both go on the loan and then do a separate joint venture agreement...because you can not have an LLC on the loan for those loan types, they need to be in your personal names.I am not a lender so maybe one of my lender friends could chime on exactly this would work @Zack Karp, @Michael Facchini, or @Jose Valdovinos?

@Stuart Bartle - If you are interested in Chicago and looing for some boots on the ground and building you team...I am happy to make some connections with lenders, agents, contractors, etc.Do you have a specific area of Chicago that you are looking in?

There are also loans that are specifically designed for this type of property if there is enough work that needs done.  

Are you noticing specific property types, neighborhoods, or price points where buyers are finding the most opportunities?

I just spent some time in your market, specifically out in Pasco county, and man is there some growth going on there locally! 

And if you still are hesitant to get started, and think this mentorship could help, I would have a list of very specific questions ready:If you issue is finding good deals (welcome to RE today), ask what Tom will actually do to get you more deals?  

ThanksArun, I am local to CT so happy to help answer any specific questions.

I will list some specific questions bellow.- If I use a 1031 Exchange, does the next property also have to be a duplex?

Do you have someone that manages it all including bookings and customer service or just specific parts like cleaning only? 

If you are the lone supplier of a specific housing product and there's pent up demand you will absorb your units quicker and have tenant stay longer given the lack of alternatives.