However, if this is a true "joint venture", all members must be actively involved in generating their own profits so the credit partner would also need to participate in decisions regarding the property such as which contractors to hire; handling issues that arise, etc. 

@Corby Goadefair point - as @Jay Hinrichs pointed out, lots of opportunities still in 'active' investing.i think what is genuinely harder is plain, boring long term rentals.  

Often nicknamed a "Kiddy Condo Loan", it's a great way for parents to get a property for their kids as a primary residence.Regarding the debt-to-income ratio, that is a genuine concern and something you would need to consider. 

Ask discovery questions, genuinely care about the answers, and seek to find a solution that falls in line with what is important to the owner.Aim to first establish trust with the owner.

My wife and I file separate because if we filed jointly we would have to pay 10% of our combined taxable income.

There are handful of crowdfunding lending companies emerged lately.They all seem to share a need to be an accredited investor to start investing.In order for an individual to qualify as an accredited investor, he or she must accomplish at least one of the following:1) earn an individual income of more than $200,000 per year, or a joint income of $300,000, in each of the last two years and expect to reasonably maintain the same level of income.2) have a net worth exceeding $1 million, either individually or jointly with his or her spouse.3) be a general partner, executive officer, director or a related combination thereof for the issuer of a security being offered.How strict is the accreditation requirement is being followed?

All of the NoCo franchises are jointly owned.

Any recommendations for underwriting templates you are currently using for syndications or joint ventures? 

Having to buy another primary residence, to avoid tax on the gain of your current home, has not been a requirement for over 20 years.Assuming it was your primary residence from the beginning, and you have not moved out/rented it for more than 3 years, you gain is exempt up to $250k filing single and $500k married/filing jointly.

Also, each tenant is jointly and severally liable for the contract.