I am a new REI & considering a 50/50 joint venture on a STR.When considering funding, is it best for each investor to have a loan for their half of the costs? 

basically anytime you buy in a market that appreciates very little and U choose to exit in 5 to 10 years your not going to be happy.   

Hey Joshua, from my understanding to your last question, if you want to do a joint venture deal, first it would be best to hire a real estate attorney and create an LLC and work out an operating agreement (who is responsible for what, who gets paid what) to protect yourselves.

Were u able to get all the cash out?

What I mean is you might end up making a Class C attracting building in the heart of a class B area, and suffer attracting residents due to lack of available Class C services and amenities (pawn shops, liquor store, buy here pay here joints, etc...).Look at your competitors and compare it to what the local (in close) competition is offering (for example within 3 miles in the same area class, structure class, and same neighborhood).Can you turn it into a multifamily?

unfortunately U needed an experienced agent to help U or an attorney this is just plain vanilla fraud..

Gives u any advantage over others?

I don’t know your business if u would’ve had 58k cash would u have negotiated a better offer?

However, according to the city’s website zoning map, this parcel is zoned U-1 (single family).

Finally I offered 2k seller said young man if u go 2500 it’s yours...