@Justin FernandezHere is one definition of "joint venture": "a commercial enterprise undertaken jointly by two or more parties that otherwise retain their distinct identities"For the sake of simplicity and what is most likely in our kind of real estate, let's agree for our discussion that we're talking only about 2 distinct parties (as opposed to 3 or more) joining in the JV.

Just here to give you some advice and suggestions.You are looking in two very distinct boroughs in the city.

Pre-funding provides three distinct advantages:A) If they don't sell it, they own it, so they have to put in an extra level of due diligence care.

For the purpose of this conversation, would you make a distinction between someone who is otherwise-involved in the industry (e.g.

The distinction is that (in many cases) an LLC with have a manager that will  oversee the day-to-day operations of the LLC but does not have a financial interest (not an owner).

At this stage you have a transit hub with parking, commercial, maybe a few nice restaurants and bars, and the residential side become very attractive.I have see this happen in the UK as separate distinct phases that were unrelated.

@Joel Owens - You bring up a great point about the distinction between a REALTOR© and a licensed real estate agent, and I think we, as a profession, sometimes do a poor job educating the public about the distinction. 

For me personally I do both so I am sure to make the distinction.. and a happy JV partner who your giving an opportunity to can create some very long term and lasting relationships that are rewarding for both parties.

I like Lance Edward's (apartment guru from Houston) distinction between entrepreneurs and investors.  

No snow removal, thank 'insert deity here'.Great tip on the distinction of landlord tenant for larger units.