@Justin FernandezHere is one definition of "joint venture": "a commercial enterprise undertaken jointly by two or more parties that otherwise retain their distinct identities"For the sake of simplicity and what is most likely in our kind of real estate, let's agree for our discussion that we're talking only about 2 distinct parties (as opposed to 3 or more) joining in the JV.

I wouldn’t worry about the short sale either.If you have not run any credit, why not do it and see where the rest of her bills stand?

The more non-institutional you go with a counter-party the less consistent the pricing will be.  

As an investor/agent I think you need to be a little more aware of making sure everyone who is a party to the transaction is happy so as to limit your liability.It can also be a little bit harder to get yourself out of transactions than if you were not licensed.

When I started out I had no experience, and no mentor, so I actually wrote out my business plan which forced me to go out and get the information that i needed, and forced me to think about and begin to incorporate how I was going to make my business stand out.

or is that something that can be calculated right after selling the property and figure out the profits for each party?

But if costs to hire a professional to mitigate damage are still under the security deposit amount, I suggest you go with that route as that provides a third party to verify that there are damages present and cost you money to take care of them vs. tenant perceiving you as making up damages and repairs which you supposedly repaired.

If only I could sell memories... lolThe best part is she called him to let him know he's way out of her league XD

These activities by a disinterested third party would be considered real estate brokering in my state and require being run through a licensed real estate brokerage.

@Andy Cross PM stands for Property Manager