Do you incorporate, LLC, or just use your name when starting out in any venture related to real estate? 

I bet you'll be able to connect with someone willing to do a JV (joint venture) with you or at least offer "softer" hard money to get you going!

What I do know is nothing ventured nothing gained. 

I watched Chris Goff's webinar and have signed up with REIPro to educate myself on wholesaling and I am eager to get started.I would love to network with other Real Estate Investors in the DMV (DC-Maryland-Virginia) area and do joint ventures together. 

NPN's can be a good strategy in conjunction with other real estate ventures you may have to get to that passive income point. 

The risks are what I need to know more about as well.Below is what is stated, regarding distributions, in the Joint Venture agreement that she sent:10.

We had previously set up a 50/50 Joint Venture agreement on a 4-plex.

On the other hand if you plan on more than one joint venture it costs less than 500 to set up an entity and pay for the licensing for a year.  

the agreement must spell everything out... all responsibilities, who does what, what you're both contributing to the venture etc. make sure its in compliance with current state laws. get it notarized. get a separate bank account & EIN from the one you may already have. good solid friendship or not, business is a different world. kudos,Mary 

I doubt insurance company, as part of their adjustment and reimbursement process, would employ a workflow where one must google/ fb personal accounts and then base their decisions on that.