There is always a "dance" that goes on between how much time you spend running numbers on a property you'd like to but don't control vs spending time to control a property you don't know is feasible.Aside from inputting data into a pro forma it is imperative for you to understand the development process itself which is accomplished by creating a critical path that shows the sequential order of the tasks that need to be executed along with their timing and the 3rd party players, functions and costs associated with doing those tasks.The combined information you get from the pro forma and the critical path are foundational in forming the agreement that secures the property which will be articulated in a purchase and sale agreement or in your case a JV. 

@Debasish BhattacharjeeTechnically if he is refusing to provide you with an executed W-9 you should withhold and remit income taxes on his payment at the prescribed rate, and then issue a 1099-MISC to him at the end of the year with "REFUSED" in the recipient TIN box.Always get a W-9 as part of a complete and executed contract before any work begins. 

Sorry if seems like dumb questions but the concepts seemed simple in theory I’m just curious how to execute

There are some ins and outs to know about, but may be worth exploring.Regarding markets, the most important thing is to identify a market where the numbers work AND you have boots on the ground that can help you execute your investing strategy.

Mortgage ChecklistThe following information is usually required during the loan process:Pay stubs covering most recent thirty daysCopy of current government-issued ID (driver’s license, passport, etc)W-2 statements covering the past two yearsBank statements covering the most recent two months (with all pages)401K, IRA, or Mutual Fund accounts showing most recent transaction summaryStocks or certificates of deposit (copies)Purchase and sales agreement (copy)12 months cancelled rent checks or the name and address of your current landlord (if applicable)Fully executed divorce decree (if applicable)Deed, hazard insurance policy, and most recent tax bill if you are refinancing (copies)A letter explaining any known credit problems or fluctuations in incomeIf you are self-employed, paid by commission, or own real estate used for rental purposes you will need to produce:Two years signed personal federal income tax returns including all schedulesIf self-employed through a corporation, the last two years' corporate returns as well as a year-to-date profit and loss statement and balance sheetIf additional information or documentation is requested, please provide it immediately.If you are retired, you will need to produce:Two years of signed personal federal income tax returns, including all schedulesMost Recent 1099’s (if applicable)Most Recent Pension or Social Security Awards Letter401k or Retirement Account Statement (if taking distributions)

You have a lot of options, you just need to execute your plan correctly!

Account executive at one of our lenders told me its because they keep getting sued.

But it's a much more powerful vehicle for both the sponsor and the investor when properly executed.

What a great place to be... and very doable achievement with a well thought out and executed plan.Regarding remote turnkey rentals... watch the hype.

Prepare for the grind you don't just show up and win, you need to have a strategy and execute it.