I’m sorry this is happening to you but why on Gods green earth did you think to yoke up with another person in a JV deal that is ill equipped ,inexperienced,and a newbie like yourself ...

The reason American became the richest country on earth is free people doing their own thing.

Then, you both have JOB's with enough current Income to put you both in the top 10% of inhabitants of this Planet Earth.

Carin Kveton , I would say that while you can read earth the target market and type of properties, the majority of due diligence would be focused on the deal sponsor, their track record, fee structure, etc.

I understand what everyone is saying.. don't join for just the monetary benefits.. but join to wear the uniform of the greatest nation on earth and while you're at it take advantage of the perks!

Think about the impact on businesses of the fires and earth quakes in California or the hurricanes on the east coast.

Though real estate will always be around, I am a firm believer that our time on Earth is limited and we should aim to accomplish our goals as soon as possible rather than "waiting for the right time"."90% of small businesses fail."

If you were depending on the LLC, and all the shenanigans to duck and hide, some stubborn litigant like my wife, and her stubborn lawyer will chase you to the ends of the earth, just for the fun of it.

I've seen where just one side of the house settled into the earth more (some 100 year old houses just setting on stacked rocks) and has likely stopped. 

Because if you now say you are only looking for deals for yourselves - why on earth would you be going around getting deals under contract without knowing how much you can afford!?