Despite her having no income, I would definitely put her on the lease so they are both jointly and severally liable for fulfilling the contract. 

Looks like I'll pick up the Joint Venture book as that's what I intend to do for most of my properties.  

✓Requirements for a Delayed Financing ExceptionThe original purchase transaction was an arms-length transaction.For this refinance transaction, the borrower(s) must meet Fannie Mae’s borrower eligibility requirements as described in B2-2-01, General Borrower Eligibility RequirementsThe borrower(s) may have initially purchased the property as one of the following:a natural person;an eligible inter vivos revocable trust, when the borrower is both the individual establishing the trust and the beneficiary of the trust;an eligible land trust when the borrower is the beneficiary of the land trust; oran LLC or partnership in which the borrower(s) have an individual or joint ownership of 100%.The original purchase transaction is documented by a settlement statement, which confirms that no mortgage financing was used to obtain the subject property.

If your taxable income is under $157,500 (single) or $315,000 (married filing jointly), you are eligible for a 20% reduction of your income from pass-through entities.

Hello all.I am trying to embank on a joint venture rehab project and contacted a private money lender who want to charge me 1% interest for 6 months on $50,000 loan. 1% interest =$500*6=$3000 plus additional $5000 =$8000 for the 6 months duration with no extra charge at the end.

Currently everything is held in our names either individually or jointly which is probably not the best idea due to liability and tax reasons.

I am talking about syndication or joint venture or equity partner.

I believe the first $77k of capital gains is tax free for a couple filing jointly (*not an accountant*).

Develop a joint venture agreement laying out the parameters of responsibility.  

@Brent PerkinsThere is good news, you can likely turn the property to a rental for 3 years and still be eligible for the section 121 exclusion($250,000 of capital gain or $500,000 if married filing jointly).