When you each sign as co-guarantors you are signing jointly and severally, not for only 20% of the loan amount. 

My wife and I joint W2 income is above $150,000 and I can’t write off any repairs and improvements.

U will want to check on your liability here.. 

Kind of like the 1k deposit on a Air bnb where U can buy the same type of insurance for 50 to 70 bucks one time. 

This strategic move paid off handsomely as we were able to command higher rents than initially projected.Here are the key financial details of the deal:Purchase Price: $270,000 (jointly with a partner)Financing: Obtained a commercial bank loan with a 30% down payment, 7% interest rate, and a 20-year amortization period.Initial Rents: $1050 and $1250Current Rents: $1400 and pre-leasing for $1500 (making it a 1% rule deal!)

The year before informing me of this divorce he had begun to secretly take out several loans on our joint banking accounts and against 2 of the 3 paid off vehicles then didnt pay them.

For example, what state is the property in; did your parents hold title jointly or as tenants in common; did your mother or father die last or did they die in a common disaster; did they leave a will or did they die intestate; if there are wills who are the beneficiaries, if not, are you and your sister the heirs and are there any other heirs; was the property their or the last to die's homestead and are there any creditors of your parents estates. 

Of course this does not work as does not count the remodeling added value which is the simple success key.That is good also for investors you could advice: I would plan a joint venture with them participating to the profit on a certain % (instead of asking a fee upfront), so you would remain with a % of a stable return, while your investor could finance back the money from the property and start over again.

Can you jointly qualify with someone to increase your loan amount?

I know where you're properties are, at least that Brompton one, that's just at the borderline of south West U/Rice and into 3rd ward.