What are your ultimate goals with your real estate investing ventures? 

How to simplify it all: Know the market, know the strategy, know the risk, assign a value for the venture. 

Thank you @Joe Aiola for the mention- I hope your ventures are going well.

But you just came into a pile of money that somebody left you to hopefully improve you and your family's future, and I don't know if using it all to invest in an unknown business venture that you have zero experience with would be the most valuable use of that money. 

Welcome to BP, I am a newbie myself, and congratulations on the new venture. 

My name is Adam Artherton, and I'm located in Springfield, MO with plans on venturing to the west coast eventually.

The question becomes, is it a wise decision to go with an FHA loan and purchase a 450k+ duplex for my first venture?

I let him know that this will ideally be an ongoing venture for me and that I plan to stick with the agent that understands the potential we could create as a team.

@Michael Aragon if you are going to structure it as a Joint Venture with each member having an active role in the business then no SEC docs would be required.

If you're doing multiple projects, you can create an LLC for each project, or a joint venture agreement.Keep in mind the tax implications of a partner doing labor in exchange for equity.