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

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.

Welcome to U S and A !!

U need equity so you can exit if need be without writing a big check.

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!

U can go bankrupt in either scenario so not a consideration from my POV.  

Would like to speak with u.

For example, in 2024, as a single individual, you make less than $146,000 MAGI, you can make a full contribution to the Roth, $230,000 if married filing a joint return.

Thank u