I hear values will only go up in Newark, but on cash flow alone, they may not hit a 10% annual return if we do a joint venture through an LLC where they get 50% ownership for their 70-80k.  

Debating issues is fine and healthy, but personal attacks add no value and will be removed. 

To me, getting a joint venture contract written up in the most important thing.

Hello all, this is my first post since I joint this awesome forum.After hearing a good number of podcast and reading in the forum.

A plumber is going to have to pump the pipes with air and spray each joint with soap and water to see if there is air bubbles.

Private money + joint venture How did you add value to the deal?

You can Joint Venture with others if you do not have enough funds to acquire an asset on your own.

Generally speaking, around 6 months of inventory is considered a healthy market. 

If your skills include a proper repair you could try matching surrounding wood and repair same by taking some out so the random length splice joints are like the rest.More than likely this MAY require a pro floor finisher.

Depending on how you are doing the deals and how many investors are involved you may have to syndicate the deal since it wouldn't qualify for a JV (joint venture).