Good luck on your new venture!

No kids here but I know there are plenty of investors here that can give you advice on that topic :)I know of many people that use their kids as an excuse for not pursuing a venture when, in fact, they are the #1 reason to.

Joint venture agreement. 

How should I go about doing a joint venture(paperwork etc)?

So I been in the game for about a year now and joint ventured with a good partner.

This is my 'second venture' into BP.  

I would also personally would not partner with a friend but that is totally up to you.Good luck in all your future REI ventures.

But to reiterate: no lender or large investor who will underwrite this venture will value it that way. 

I then realized that i could build capital by using wholeselling as a niche and then venture off with obtaining properties for my own.

Some of these topics may be of interest and may want to be discussed in further detail:Advantages of having a license vs not having a licenseExpired listing goldmineRent to OwnHow to give choices to the seller that can eliminate the competition Creating a Joint Venture with homeownersSpecific steps in dealing with disgruntled sellers and how to create a win-win solutionHow to quickly create cash flow Most investors do not have a specific action plan they tend to take a Ready, Fire, Aim approachI do have to include a small disclaimer: Some of the information Brain asked me to keep confidential, so I will do my best to answer questions without violating his confidence.