You may get more rents with pushing out old tenants and getting new, but you'll pay the price somewhere else (extra personell for managing the constant turn-over etc)

Just today I sent off my 12 page complaint to the contractors state licensing board against (formerly) one of the most popular rehabbers in the IE.. who now works for Waypoint because he screwed so many investors over last year nobody will even give him a toilet to unclog.I've been at this for 15 years and the one constant in this business is that contractors are like cheese, they all go bad eventually.

However, ideally everyone would feel they are being compensated fairly once you sign the joint venture agreement or formation docs. 

Since people are jointly and severally liable on a lease, I'd think that separate application fee and "tenant" screening would suffice?

@Nina Grayson, based on their initial capital, which as a percentage of the whole should always remain constant assuming that all distributions are made pro-rata to all investors at the same time (which is what happens). 

The mortgage or no mortgage on a primary home question is debated constantly and the truth is: there IS not right answer.

I’ve been in real estate for over two years and now looking to get into the investing side. I’m looking to shadow an experienced investor or JV with another investor (even a newbie to put our heads together) in Housto...

If not then you need to find partners either through an equity provider, a syndicate, or a joint venture.  

Example: holding all else constant,  50.45% of the $749,000 in cash for the down would reduce loan principal to about $371,165 which then enables property owner to break even. 

I have a home in New Orleans, and constantly walk my dogs through different areas looking for that run down house.