If you are setting up an LLC, then you need an operating agreement not a joint venture agreement. You'll also need to file Articles of Organization (or Certificate of Formation, different states call it different names) with the state you are organizing in. While there are several websites out there that you can fill in your info and they spit out the docs, it may be worth the time and money to work with an attorney to make sure you have thought everything through (like buy out options, dissolution, etc)
Thank you for taking the time to respond to my question.
Yes completely agree with you and would certainly use the expertise of an attorney. However just wanted to review a document to better educate myself and have talking points to what would be best practices etc.
By seeing how others may have designed their operating agreement may give me ideas to offer to an attorney as well that they may not have thought of.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.