- What are some of the most important aspects of successful Joint Venture?

Hey Y'all (I'm not really from Texas, but I feel its my duty as a transplant to try to fit in as much as I can),I am an attorney representing mortgage lenders in all aspects of mortgage default: foreclosure, bankruptcy, tax sale, loss mit, etc., in my day job.   

In addition to the practical aspects of following a properties profitability, if a property sells, all expenses are tied to the saleable unit and the basis is quickly and accurately available.

Areas with above average school districts are another plus:  This will be the absolute hardest aspect to find in 3-4 units. 

Loopnet is a great resource, and you can also search for terms in the public remarks of a listing like owner financing or owner may carry. 

The lawyers always forget to mention that little aspect.

Nothing was signed and there are no legal remedies involved this early in the process, so no harm done should things not work out.It's not fool-proof but it's less risky than most other aspects of REI 

Also, I've read some aspects that are needed to look at a certain market, but if anyone has any tips for this I am more than happy for accept new information!

Like most of you, Im a bit of a control freak when it comes to my investments so I self-manage and am in contact with my tenants so this is outside the box for me to allow/need the PM to handle all aspects of this investment due to the distance, but if the numbers are there take advantage of it... right? 

But now I realize that while I was busy learning about analyzing the numbers and what to expect, I didn't learn about the LLC aspect!