Is it safe to wait and see what the rates change too after the 3 year period.

You could shadow them and see all of their properties in action.It just seems you would have been better off waiting and staying local to buy your first property especially with the low price points.

Lets do it together real quick:80K ARV20K Rehab50K PurchaseMoney borrowed=70K Time borrowed= 6 moHard money Costs=7K (10% of 70K: 2points on front 2 points on back, and 1% a month)Real Estate Commissions=8K (10% of 80K: 3% to listing agent, 3% to buyers agent, and 4% to title work, doc stamps etc)...so the flipper would take 6 months to lose 5K and you still havent gotten paid either...But wait, there's more: Upon further inspection the wholesaler's numbers were wrong anyway, the flip is going to take 32K and the ARV is really only 64K and I can only buy it for 12K (lets say 9K to the seller and 3K to you)12K + 32K = 44K Hard money costs 4.4K and closing costs 2.5K, RE commission is 4KTotal costs = $54,900Sale Price = $64,000Total Net to flipper= $9,100 Joseph, I am not necessarily a mentor, yet. haha but I would be willing to answer any of your questions. 

I am waiting for insurance money to repair the fire damaged property.Can anyone suggest a way that a JV could be implemented in order for me to get:1) $350k upfront for my venture,2) get value for the insurance for the repairs3) after repairs sell the property pay off the mortgage and split the profit and give the investor about $200k for the $350k investment (plus repair cost)Just to want to know if there is a legal mechanism to do this.

There are some other items but those are the big ones that I mentioned.

Some say get start in 2-4plexs while others say to wait and get into the larger properties because of the scale factor.

Like I mentioned before, I don't technically qualify for a conventional mortgage because I'm newly self employed.

I have a few questions first.Do I have to contact them today or do I just wait to see if they contact me?

Areas that are descent but not necessarily Middle Class.As mentioned before we are mainly in the research stage to determine if Phoenix is the right place of not.  

You mentioned 60 units and 100 units.