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?

I personally witnessed a Joint Venture that fell apart because the General Partner (GP) was depositing the Partners money into his own Personal Bank Account.

Hi everyone! 
I'm working on closing a deal with a partner and I want to make sure our JV agreement is set up good so we don't have any issues down the road. Does anyone have any tips on how to properly set up a JV a...

I'm working on my first go-around of tenant screens for a house hacking arrangement.  The potential tenants are aware that I'm the PM and neighbor.

Rent: $1,600
Tenant 1: a few years about of school, excellent pre...

A JV would be me and you signing a joint venture agreement, specifying that we'll split profits 50/50% on the sale of a particular property.

All you need is a "joint and several liability" clause.