Many investors will join together to form an LLC or a Joint Venture agreement in order to do a deal (or multiple deals together). 

. :) But owning a brokerage takes you from managing yourself and your clients and transactions in your own quite independent business (still operating under the guidelines of your brokerage, obviously) to managing and being responsible for a large number of PEOPLE - plus a lot more liability.So the main point I would make is that IMO it's not a natural progression, the huge shift in business model and activities and responsibilities means examining it as a new business and evaluating the trade-offs just as one would any other new venture.

while being a passive investor in out-of-state ventures.

The conservative part of my brain tells me to get rid of this property as it is one less thing to worry about with all these other things going on.Basically, I am contemplating whether it is worth holding on to this property with hopes it's value increases like it has over the past 2-3 years or if I sell it for cash flow to put to better use in other real estate ventures.

Joint venture partners

Way too many people are trying to get into wholesaling, with no experience, as a quick money venture.

Originally we called it “Joint Venture” but I essentially wholesaled it to this investor as a no interest/no payment deal for 10 months while they rehabbed the property with a balloon payment for the full amount we agreed on at the end of the 10 months.

I am working on starting a business venture with a partner centered around RE investing and every attorney we’ve spoken to doesn’t seem to understand our goals.

Whether you bought it in your name or the LLC, you could simply draw up a joint venture with anyone not on mortgage or LLC2.

Congratulations on your Real Estate ventures.