Thanks to everyone for sharing best practices.I am from Vancouver, Canada, and have invested in RE in Vancouver for a few years and want to venture into the US.  

That may be the most important document for your venture.

I plan on buying 2 single family homes in the Sacramento area after tax season next year and build on it from that, I don't think having 5 properties is out of the realm of possibilities.For anyone that is reading this, good luck on all your ventures!

Below are the numbers on it:ARV:  $340,000Acquisition: $175,000Repairs: $60,000 to $70,000Lead Source: ReferralOther good things this week include - collecting another $4,000 non refundable option consideration (50% of 2409 Ruth) which shall be added into the cash number by next week (when we cash it; Rentshare got it from the tenant's account last Friday but it will be deposited into our bank account by next week); - we launched the Real Estate Investing Joint Venture School last Tuesday (lesson #1 is about three lenders you need to buy houses).

What the workflow is like.  

If you ever tire of lush and beautiful Florida and want to venture into the sands and saguaros of Arizona, we would love to sit down with you and talk strategy.  

I was recently blessed with being able to form a joint venture with a hedge fund, for SFR's that are pocket listings and not available to the public, in Cook County.

You would take a junior position in a joint venture.

Joint Venture with a local contractor, who is fully licensed and insured, and give him 10% of the work and charge me accordingly.

Good luck on your venture