This was an opportune time to start our REI venture. 

Hi @Ryan Montbleau, good post and I'll venture forth with some info.

This was my first (and last) venture outside of a large city. 

Welcome to BP and good luck with the new ventures. 

Plus, if you continue to acquire more properties, you’ll have a solid, legally sound lease to use without having to worry about your license being in jeopardy.Good luck with your new venture!

Then you will have a track record, and the annuity can fund the down payment for the next venture.  

Most here on BP that buy NPL's like myself only invest in the US as we see plenty of product here in the US and can make good money doing it, so its not worth the risk to venture overseas in other country to learn all the nuances, laws and rebuilding all brand new relationships.

However, if this is a true "joint venture", all members must be actively involved in generating their own profits so the credit partner would also need to participate in decisions regarding the property such as which contractors to hire; handling issues that arise, etc. 

I am looking to get intonthis venture in my Chicago land area and would love some feedback and input from you.thank you for your time 

When I lived there, I ventured to other markets in upstate NY for cash flow.I would also consider looking at other markets in the U.S. if you are looking for cash flowGino