Overall, out of state investing does not have to be a risky venture if you have the right contacts in your target market. 

I haven’t ventured out there myself but should consider it.You mentioned owning one or two properties not changing your life. 

We make a fair amount of money (about $80k after taxes/expenses), but in my opinion not enough to justify potentially being $1,500,000 in debt in the next couple years.So, as we venture into the world of rental properties more and more, can we expect to just be approved for a loan every time as long as the property will cashflow?  

When I sit down with clients, I always discuss (1) their personal assets, and (2) what their current investments portfolio and other business ventures are before discussing (3) their future goals.

They sent me over a template of their Joint Venture Agreement that they use.

It's a short term venture at best, and the most likely outcome is you bought a fancy new-ish car and have a bunch of consumer debt costing you money rather than making you any. the car won't appreciateyou won't get any tax benefits It becomes less lucrative as other EV vehicles come into service It adds a bunch of additional liabilities on your DTI which many hinder you if you decide you want to buy an actual investment. 

This means that next year the joint venture will file a Form 1065 and issue K-1s to both you and your brother if there are items of income, deduction or credit from the venture. 

We would also like this venture to provide us the opportunity to retire early, LIVE a financially free life and travel the world.

Unlike offerings registered with the SEC in which certain information is required to be disclosed, companies and private funds, such as a hedge fund or venture capital fund, engaging in these exempt offerings do not have to make prescribed disclosures to accredited investors.

See what it takes to own and rent 1 in your own backyard before venturing out into other markets.