The conversation this advisor needs to be having is whether or not a real estate venture with that piece of capital is in line with your partners overall financial plan and risk tolerance.

Keep this in mind when venturing down the real estate path.

I would love to hear from some Canadians that have done Joint Ventures and/or Partnerships, specifically when one person provides the cash and financing ability, and the other partner finds the deals as well as oversees all management aspects.

Does this break any particular conflict of interest laws if this is a private venture and the parties all have a clear understanding of my role in multiple aspects of the project?  

You have to venture south, east, or west... 

If you want to venture out from SFH, there are several multi-family opportunities with 5-6% CAP rates that are under market rents.

My recommendation would be if you have bigger ideas would be to take the cash flow you have, use that as a down payment into whatever new venture you are thinking and keep those properties free and clear.

I now venture out of my own state. 

I have plans this week to begin looking for properties to buy in the area I'm interested in beginning my RE venture.

I would recommend trying to joint venture with an experience flipper for your first project.