We subsequently entered into an JV agreement to pursue it.

The waiting period required for Chapter 13 bankruptcy actions is measured as follows: two years from the discharge date, orfour years from the dismissal date.The shorter waiting period based on the discharge date recognizes that borrowers have already met a portion of the waiting period within the time needed for the successful completion of a Chapter 13 plan and subsequent discharge.

I've owned many investments but now moving toward a formal structure and business enterprise.  

Assuming you don't want to pull money out at the time of the balloon you probably have better subsequent LTV ratios so the risk profile of your loan goes down each time.

My tenants stopped paying and I went through a separation and subsequent divorce around the same time.

Should I just go ahead and file a 3-day notice and subsequent eviction now?

Then, once the first investment is made and we've proven our worth, subsequent investments aren't such a hassle, because they know the quality of our product and our service.

Etc..I ask because I'm wondering how best to get started with a 50k startup and create an upward momentum for subsequent investments.

We can run numbers all day long, but in my professional opinion in both real estate and all other business enterprises, a Partnership should be a Partnership.  

Has anyone dealt with http://enterpriserealtors.com or http://www.buymemphisinvestmentproperties.com?I'm new to BP and "buy and hold"/rental property investing.