I've done JV deals with clients in the past, but usually they are not local, so my expertise and locality is something that they don't have where they are.

Financial Advisors and CPAs often refer clients to one another.

Some of our clients are good with software and invest in private software ventures.

From what I understand, the clients are paying them for a service and not an actual "tenancy".

As for Stockton, my husband has a client that just bought a live in flip there (that guy has done a few in the area. 

If they started after the crisis they probably have a great record but it is mostly a function of the rising market rather then than their unique skills.

Seems like at least half the bad ones were not clients but on the other end of it.

I have been making offers for clients and getting rejected left and right with 60-100k over asking.

I had a similar idea by attaching myself to an real estate agent so that they can refer me to clients buying properties to rent through Airbnb, but I like your idea even better.

Second, nothing will decide my success as well as my quality of tenants, and while it's one thing to let someone fix a toilet, it's another to let someone decide who your clients are going to be.