Me and a few folks I met at a mastermind group all went in on a joint account a few years back so we could save money. 

While we currently live in Stephens City, VA, we’re open to investing in other states where the numbers make sense.Real Estate Goals & StrategyInvestment Focus: Buy-and-hold rentals, short-term rentals, and potential multifamily propertiesMarkets of Interest: Open to investing outside of Virginia in cash-flowing, landlord-friendly marketsCurrent Stage: Learning, networking, and preparing for our first investment propertyLong-Term Vision: Build a diversified rental portfolio that provides financial freedom and generational wealthWhy I’m HereNetworking: Connecting with experienced investors, agents, lenders, and property managersLearning: Gaining insights from those who’ve built successful portfoliosCollaborating: Open to partnerships, joint ventures, and creative financing strategiesWith my sales background, I understand the importance of negotiation, deal-making, and relationship-building—all of which I plan to leverage in real estate.

One thing to note when getting conventional mortgages and spouses.There is a 10 limit per person for conventional financing.You can either do 10 conventional in each person's name which would be 20 mortgages for 2 people or if you do the mortgages jointly, will only allow 10 in total.My thoughts are not to own joint assets until you are both married. 

Estimated costs range from $500–$1,000 annually, depending on the complexity of their LLC and rental activity.For Partner 2 ($148K joint income, W-2, 1099 income, 1 rental, 2 kids), a CPA is strongly recommended.

With the numbers you provided above, you will have to ensure you have healthy reserves.

With the capital and experience to offer I've seen this work well as a joint venture.

Spending a healthy % for a reliable company can make your life easier and lead to more growth as you free up your time.

There is a "joint and several" clause in every lien that means you are both 100% responsible for the payments, so always something to keep in mind. 

And I'm assuming it says that each tenant is joint and several liable. 

Structuring a joint venture (JV) or equity partnership can make the deal appealing by offering a share of cash flow and appreciation.