Our lease does say, 'jointly and severally liable'...Would it be better for tenant #1 to sublet the 2nd bedroom and be responsible for collecting his half of the rent from the new tenant ?

If:-Current joint primary Mortage with spouse 300 k-Won’t qualify for conventional or investment loan because dti is too low (they ding you for entire primary mortgage plus taxes)- liquid assets 600+-current home equity 800k+Looking to buy second home for short term rentals / investment around 300-450kBesides HELOC what are best loan options and why?

Questions:I am wondering how we should officially consider and designate “ownership” of the property and on the title report.Should We consider it joint tenancy?

Held jointly in an escrow account, the amount ranges from 1,000 to 3% of the purchase price of the property.

There are joint-ventures that you can accomplish this however it's about everyone playing a role.

The amount you listed at $4300 should be deductible, whether you're filing jointly or separately as you're under the limit for both for 2021 tax guidelines- $10K filing jointly and $5K filing separately. 

My partner suggested to open a bank account for our joint venture for tax purposes.

All expenses will be shared jointly.

But, if the floor is nonlevel because the joints underneath have an issue, than you will need a permit.Honestly, the you really should just call your town and ask. 

Quick example, if you are single and lived in the house for 6 months (1/4 of the 2 year requirement) you get to exclude up to 1/4 of $250k ($500k is married/joint return) or $62,500.....so, your Full gain could easily be exempt.