Jon, I hear what you mean about a partner, however, my partner and I have been partners in several other ventures in the past.

We hired a project manager who will be managing a new business venture for us flipping and new const.

It requires a lot of work, but the same consistency & marketing as any other real estate investing venture.  

It really depends on the numbers in the deal.Another thing I've done is joint venture with other people in a profit sharing arrangement.

You may have different needs that may not fit neatly in one solution.Using a LLC, the LLC files a return & each member gets a separate K-1 for individual tax purposes.I like to have my own entity & the other party have their own entity & Joint Venture or ownership as Tenants in common.

I graduated from University of Northern Iowa and am in the process of applying to physical therapy school.Over the years I've started many small entrepreneur ventures with minimal luck.

However; it may be possible to find joint venture partners.

There is no general rule pertaining to expectation of return, & perception of risk.For me as an experienced investor, in lieu of a track record, I want more control, & to address the risks of the operator not performing as agreed.Evidence of success of the "strategy" is also important if you don't have a track record.I want the structure of the venture to motivate the behaviors needed for success.

I had to venture out of state for this deal since I can just about buy a car for this amount in my area (So Cal) ha :)

Congratulations on your commission, and good luck with all your new ventures.