As long as one person is a real estate professional, you can usually use rental losses offset joint income.

BiggerPockets groups —lots of solid resources and a supportive community here or at local REI meetups; you'll find folks willing to share tips (and maybe even some potential partners).Here are some other strategies that could also help you scale faster:Partnerships/Joint Ventures: Teaming up with others, especially experienced investors or people with capital but limited time.

Because the rapport I built with the seller and the property is pretty much a dump, seller is ok with whatever happens as long as they will be released from the head ache.

The purpose was for us to fix up the property and to flip it.Ownership Structure: My aunt and I are joint tenants, each holding a 50/50 ownership stake in the property.

Only two payments I did not have to send a reminder and it was never set up for ACH although I have asked several times.

The site also allows tenants to pay with ACH for free or for a fee, the tenant can pay with a credit card. 

These are some options that I am considering. 1) Getting an LLC and a Joint Venture agreement to partner with a long time friend of mine but somehow separate our business from our individual marriages?

The wall will raise the ceiling in the winter and crack it at the top of the wall in the bedroom, but you can't see that crack at the high side of the floor because the separation is on the back side of the wall / ceiling joint.

You can file a Chapter 13 which will protect your home and its a clean way out.When you file a CH.13 BK its not the end of the world it simply protects your home since its your homestead from foreclosure.

Only one bank account needed, but you'd have to track income & expenses to do transfer and year-end accounting.As @Nathan Gesner mentioned, not really worth it.You two could also open a joint bank account for collecting rent and pay expenses, just be sure to track everything.Do NOT do what @Paul De Luca stated about transferring title!