It would be worth the time and money to find a local attorney who specializes in joint venture arrangements.This way the paperwork and protections will be in place for both parties.A deal always sounds encouraging in the beginning but can later fall apart.

I learned a lot but it wasn't until I joined BiggerPockets and actually started to meet and connect with others that I made real progress.And by progress I mean forming a joint venture with Ben and fellow BP members @Kelly L. and @Maxwell Lee last year and closing on my first buy and hold rental property in Jacksonville, Florida at the end of 2014.

Being my first venture into buy and hold, I'm looking for something that needs as little rehab work as possible.

There's other ways, such as doing joint ventures and equity partnerships.  

Various sources of funding used in combinations provide creative solutions, seller financing, crowd funding, angel funding, investor pools, joint venture capital, conventional financing and other sources can be combined to provide unlimited possibilities.Deals done? 

If you're seeing a building with 70%, I'd venture to say they're paying more than just water and it's an aged building.

In one of my ventures, my partners and I have everything very well defined about how money is distributed, in what order, and when.

Water dripping from the stairwell ceiling, very damp and that she thought she heard running water but didn't venture down there to check anything out and called me instead.So I leave work and rush over there to find a basement FULL of MOLD!!!!

That being said besides my cash resources I have bigger questions about my time.Currently I work a full time job that I can't leave to pursue this venture, especially with no guarantee of success.

I love old houses but I am being careful because I know these big old beautiful homes can come with big hidden problems :)This venture will be fulfilling a lifelong passion for many things all rolled into one.