You can still do joint ventures but it should follow the howey test which boils down to 1.

Getting a good deal but being a bad operator can make your venture unsuccessful I would suggest partnering up with a successful operator to gain some experience and to reduce your risk.

For rehabs you combine the venture sheets with your selection spreadsheet to create a project workbook.

To my understanding each project would be a “joint venture” investors would only be funding each deal individually.

I think that investors really need to venture out and find new MSAs that work with the numbers.

They way I do business is by running each business venture extremely lean in the beginning.

Go with these first 2 things and they will tell you all of the context specific things that YOU should do to be successful in this venture.

My income is high six-figures/low seven figures, i am an active investor in hedge funds so I rarely keep much cash available, my credit score is 800+ and I'm smart enough to know that I can get hurt badly venturing head first into an area that I'm not so well versed in. 

Our first time putting together a bid like this - Is it a worthwhile venture?

When meeting with clients the first order is to discuss (A) their personal assets, (B) break down their current investments portfolio and other business ventures before discussing any (C) future goals.