The soldier joints don't look all that bad so it was someone who at least knew how to soldier.Actually, this one makes no sense. ;-)

We recently had the same issue with a 70's home where the poured basement walls began to seep at a couple of the floor/wall joints.

Isn’t that what a joint venture would be?

May not work for an FHA but you could look into buying a multifamily as part of a joint venture with a financial partner using a different loan product.

If each investor is doing a different deal, then your options are to create a new LLC for each deal with your LLC as one of the members (great idea) or simply have your LLC put together a joint venture agreement with the investment partner.

I c This is what I would do in your position..I would only incorporate if this is a rental property and/or this will be an ongoing partnership doing flipsIf this is a just a one time thing or at least to test out the waters it would be easier to structure a joint venture agreementThe proper way is to incorporate but is it necessary with all the fees associated just for 1 dealI am an agent in Toronto as well and someones it gets too complicated when so many people and decision makers are in on the deal.

We decided to make another joint investments as it is something we really enjoy and colleague of mine already lives there. 

If you had never created LLC, then you could have elected to be taxed as Joint venture.

I also wanted to experience the process of combining multiple pools of money from different people, BUT, I imagine we would just form an llc and use that to purchase the property with the distributions set up in the Joint Venture jargon. 

JV = joint venture.