If it's any type of construction maybe you can network your way into finding a joint venture with someone who is willing to put up more cash if you are willing to renovate (sweat equity).

@Step SthephYou may also want to think about holding onto the property that you live in in your own name for now.You are eligible to exclude up to 250,000(500,000 if married filing jointly) as long as you lived and owned the property for 2 out of 5 years.If you transfer the title to an LLC - you may lose out on the appreciation as you continue to live in it.You have a couple options regarding the other lots.If you don't know contacts or how to develop land - you may want to consider the land outright.If you have experience to develop land - you may want to pursue developing the land and then selling it.option 2 will likely generate more money but also require more work.

Hello everyone, so I have an opportunity to do a joint venture for my first deal.

Try using a "joint-loan" since you are not VA eligible. 

However if Texas has a deed such as joint tenancy deed  or transfer on death deeds as we have out here in California, the property as a matter of law would transfer to the remaining owners listed on the deed on the death of the deceased owner. 

If spouses file a joint return, the joint venture between spouse is a qualified joint venture that is not treated as a partnership. 

My parents invested their HELOC  in a restaurant as a joint venture.

Have a Joint Venture Agreement that outlines who puts in how much money, how disbursements are made, what happens in the event one of you wants to leave the agreement.

I think we are in the 15% bracket (married filed jointly with income between 70K and 400K) for Capital gain.

I take on investors as Joint Venture Partners and we put Facebook to shame!!!