Joint-venture?

@Jim CharlesOne initial thought is that I would recommend anyone that is part of this joint venture to be financially invested as well.

Without a good deal you can’t buy anything.Not sure what you mean by joint ventures specifically though

Another one does joint ventures in small/medium multifamily, another one is going solo on small multifamily.

I am joint owner of the property, but she is the only one on the mortgage.

If you rent out an apartment to two unrelated people (roommates/friends), but they're jointly liable on the rental agreement, what happens to the security deposit if one roommates decides to move out? 

Also, it will be a long time before I can actually benefit from not having to deal with the messy wax when replacing them....My main driver for switching away from wax was that there are basically two things that joint comes in contact with (aside from water): poop and wax.  

@Danon AlbertI had an introductory consult with my attorney and confirmed he can help me set everything up as needed (LLC, lease agreements, etc), but he advised I meet with a CPA soon as well, then bring them both together for a joint meeting to confirm our strategy before setting anything up.

Real estate is a great investment but it's gritty and required time and is stressful.For you I recommend buying a new build condo or town house and renting it out right away or being the financial partner in a joint venture partnership. any other model does not work with your minimal hassle/time/experience expectation. 

Our income tax return will be married filing jointly, so it doesn't matter for us if he gets 75% and I get 25% or I get 100% and he gets 0, but does it matter as far as the tax return for the LLC is concerned?