Here is an article I would encourage you to read on Joint Ventures.Option 1: Traditional LLCFor this situation I would recommend setting up a regular LLC for this property.

Tenants in Common, Joint Tenants, Self, LLC, Corporation? 

So I am a joint owner of a rental property with my siblings that we inherited when our mother passed.

He also has one on Joint Ventures and Tax Tips.

Also, personal property used to furnish lodging may now be eligible where it wasn't in previous years.Keep in mind, if you're income is near 315k joint or 157k single, it may be a good idea to HOLD OFF on a full Section 179 depreciation of property up front and rather extend it over a number of years to take advantage of the 20% qualified business income deduction of pass through businesses in multiple years rather than just one.Obviously the details are a little more complicated, but this is a strategy that can save you tens of thousands of dollars not only in 2019, but the years following if done right.Best of luck!

If you don't have money I suggest learn all you can and do the hard work to figure out your market niches so that when you find a partner for your joint venture, all they have to do is provide the money.Hope this helps!

It was probably be in your best interest to seek out a joint venture.

The flip property was owned in an LLC that my wife and I are joint members of in case that makes a difference.

The best approach is to find someone who is local to you and do a Joint Venture for the first project.

I recommend starting with "Real Estate Investing in Canada" and the "Real Estate Joint Ventures" is a another good read.