I'm in the process of building a joint venture credibility package and going after JV opportunities however need some advice on where to start.We've had a busy 3 months securing 5 properties which has tapped my partner and I on approvals.I'm a big proponent on the old adage that each party must bring something to the table.

Nothing in their back ground that a nice fat security deposit couldn't solve.But the information you gave is only half the picture, I'd want to know about the property itself, to understand if it would be a good long term fit for the older couple.

Title companies insure from the last insured transaction, called a "starter" and utilize reciprocal arrangements with prior insured transactions"In order to satisfy a title underwriter the a secured debt has been paid and eliminated as an exception, besides an affirmative response from the lienholder, including a demand with a zero balance and release and satisfaction or reconveyance, you can alternatively move the risk elsewhere.

(xxx), since you're the funding lady, you get the 34%.Target purchase price is going to be $489,000Closing costs to purchase app equal to $15,000(Will receive security deposits and pro rated rents in exchange).....Total out of pocket is $504,000 potentiallyTotal guess on costs for repairs, evictions, rehab and insurance = $40,000Total out of pocket expenses = $544,000Currently, properties are bringing in about $132,000/yr OR $11,000/mo or .

I think for me at this point, is more for feeling secured that we live in an decent area with a kid, not the most desirable area, but decent enough and also close to work.

As far as securing the property, I agree with Steve.

The majority won't qualify for traditional financing, hoping that funding won't be too difficult to secure if the deal is good enough.

You don't want Mickey Mouse forms off the internet to loan money and secure property.  

Now here in the north west we have HML that will put up 80% of the auction price and take security in the trustee's receipt then do the loan when the deed comes. they charge 4 points for this service. 

My ultimate goal is to make Real Estate my next/last career (no, I'm not close to retirement) and to build steady stream of income that will provide the security and time to do whatever I want.I'm looking forward to connecting with fellow BPers (especially those in the Boston market) and continuing my education which I know will be life long.