But on aggregate, there are always fewer successful young people (in any generation) than ones that are struggling.

If you want to know more about securities definitions, you can check out the Howey Test or the risk capital test.A JV can be dangerously close to being a security and can cross the line but whether or not it does may depend on the level of involvement of both parties in the venture. 

However with "Subject To" you do own the property so you make more money, have more flexibility and fewer hassles.

That means there were many markets where it was worse than 11%.This state of affairs has led to a very dangerous complacency among real estate investors.

JV’s are dangerous!

You won't find many painting contractors who will remove painted popcorn finishes, and even fewer who would be willing to do it for a reasonable price.

All other things being equal it is easier to maintain focus and complete an exchange with fewer properties.  

It doesn't look incredibly dangerous at this point. 

I have no problem renting to dog owners and actually encourage "dangerous breeds" as long as I meet them first because I know how hard it was when I was trying to rent with my dogs.

Your only danger is if the cash flow is weak (e.g. $50 a month) and the rental market tanks so you start operating a negative cash flow which means you're eating into your ability to save.If you have buy weak, a downturn will affect you.