Hello BP.As part of me and my partner plan to establish a Joint Venture with an investor, we are moving forward with purchase of a property in JV model.We would appreciate clarification on the following points:1.

Keep in mind rent control is 1 thing, its a laws for existing tenants but some city's like Newark are so strict that you must get approval for what rent can be even after a tenant moves out and new ones move in. 

Change orders are going to happen, but by needing approval from you before they move forward, this allows you to control expenses better and/or make adjustments in the SOW so that you can stay on track and on budget.

If you start a JV in name but do not give your partners proper control and decision-making rights and the deal goes bad you open yourself up to serious consequences which can lead to SEC violations with extremely high fines.Lastly, you can offer the project up to investors who have no voting or control.  

I would venture maybe $20k total, conservatively. 

These are the risks when you send your money to a company and then you have zero control over it.

Use that loan to pay the back taxes and get things under control.

My vision includes developing the land into a destination with features like driveways, walking paths, utilities, and unique lodging structures.Here’s my tentative plan1.Place the existing STR in an LLC2.Apply for an SBA small business loan to fund the next steps, including a feasibility study (~$10k+), land clearing, and infrastructure development.While this direction excites me, I’m torn between pursuing this venture and continuing with a more traditional approach—buying one home per year using conventional loans.I’d love to hear your thoughts:•Has anyone transitioned from STRs to glamping or similar ventures?

…Yogi BerraSetting written goals is the foundation of any successful venture.

It is secured with  👇 Controlled Interest: We include our investors as a 51% controlling interest member on the borrower’s operating agreement.