I subscribe to his philosophy and just don't do partnership, however, I do a LOT of joint ventures, and would suggest that for you.

If you are going to partner with someone, you might consider a joint venture, but this requires all partners to be active on the deal.

This is my first multifamily venture, so I'm learning as I go.This deal just seems too good to be true.

@Curtis Eddie congratulations on your big venture!  

There are a variety of ways you can get started – joint ventures, wholesaling, and property management are just as few ways to test the real estate investing waters.

You can get in actively finding and closing your own deals, joint venturing with someone else, or investing passively in a multifamily syndication.I started out with single family home rentals in the midwest, but I am now focussing on multifamily syndication in the SE of the US. 

Curious to whether this is a profitable venture once you have installed gate + keypad system (no onsite staff apart from some checks ins now and then) and whether customers would even rent at such a small facility.  

We will then do a joint venture agreement and set up the operating agreement for the LLC. 

Your experience whether it be as an investor, contractor or other related venture adds to your credentials.  

I would advise against starting a whole different venture until your insulated from loss's with current holdings, and $2k a month is not there, it's a darn good start but not there, a $20k loss on something could still cut too deep for comfort.