.- Business Setup: I’m setting up a new LLC specifically for this venture, which means the LLC will have no prior credit history or track record.- Investment Location: I plan to invest remotely in Birmingham, AL.

For out-of-state ventures, a property manager may be required even if you intend to handle it yourself.

How that is addressed will depend on whether this is a new venture funded with cash, an acquisition, a round of expansion funding, etc.

We are interested in going in this venture together for to purchase a multi-unit. 

And thank you again for your service; your discipline and experience will undoubtedly serve you well in this new venture.

I am working on the feasibility of a joint venture multifamily development. 

@Titus MeisenheimerTaking your real estate investing ventures global may be both thrilling and difficult.

This helps with claims about dirty water etc.Either way you go, the takeaway is being able to consistently maintain a certain level of service and being prepared to integrate this into your team's schedule/management work flows. 

Any company insuring your properties without an inspection most likely has a clause buried deep in their policy allowing them to deny claims for conditions found on the property that do not meet their UW standards and they will deny you claim based on "the house should have not been insured with them anyway".Although the inspections can be annoying look at it from the other side.You pay them 1000 to 3000 a year to insure a rental property where they agree to pay out possibly hundreds of thousands of dollars if it burns down or up to 1 million if a tenant slips on a bananna peel and falls down the steps or the tenants dog bites someone and since you didn't enforce the tenant having their own renters policy to cover the dog bite the landlord's policy is paying out.The insurance company is very much like your rich uncle backing your business venture - you run the business, he takes on the financial risk from disasters, and doesn't even get a say in who lives in the property.Your rich uncle asking you to fix the steps, put up a handrail, etc which is in your and his best interest long term.Do you really want to rent out a property with a busted front step and a bad roof that is going to leak sooner than later?

Then you get down the rabbit hole of integrating platforms and automating your workflows which takes a lot of massaging and some technical skill.