Tax implications of possible change from Schedule E to C

[Joe Lambert]

My wife and I both have W2 jobs. We are currently in the process of refinancing our rental properties. After we refinance, the mortgage and deeds will be in one of our individual names (versus formerly in both), but not both. We historically have filed the income as a sole proprietor on Schedule E. In regards to taxes, can each spouse claim revenue and expenses on properties in which they are not on the deed or mortgage? Additionally, would you recommend a qualified joint venture (QJV) or partnership versus sole proprietorships? If we went the QJV or partnership route, what ramifications would this have on our tax filing?