I file jointly with my wife who's a w2 employee.

The house is registered with my name and my younger brother’s name as joint tenant.

Why not joint venture with someone who has money, fix & flip itWhy not rent it out for at least the monthly carrying costs.Why not sell it on a lease option, get 10% cash up front to fund school? 

We create a new joint LLC for each investment, and each participant gets listed as an owner of the joint LLC. 

Joint Venture.

Exemptions to getting a 2nd FHA loan per HUD handbook are:-Job relocation 100 miles away or in another state-Increase in family size-Vacating a jointly owned home (ie - divorce or the like)

., repairs, management, communication with the seller).Exit strategies in case things don’t go as planned.When you do find the right partner make sure to create a joint venture agreement that outlines all of this clearly.

Since you lived in the home for 2 years and 9 months before renting it during your deployment, you should qualify for the exclusion of up to $250,000 ($500,000 if married filing jointly), provided you meet the other criteria.

We jointly designed the house to their specs.

Thankyou @Paul Azad, the relationship between Monday and RSN was described as a joint venture, meaning both groups would be responsible, and actively involved, in asset management and decision making.