I am a Field Engineer with a Construction Company in Orlando Florida and a grad student in Civil Engineering at University of Central Florida. 100% looking to network and create genuine relationships.

Anyone dissing Jerry, or anyone else out there who is genuinely putting in the work and deserves every penny they EARNED - In addition to dropping gems that are unmatched in the industry are either under a rock, or don't know what they're talking about because they haven't put in 2 mins of the work to give the man a chance.

This strategy allows them to eventually exclude up to 250,000 (500,000 if married filing jointly) of gain from taxes when they sell the property as a primary residence.Hope this helps!

He is married with joint income of about 148k.

As far as your primary residence, if you have lived in it 2 out of the last 5 years, you should not have to pay taxes on capital gains (difference between what you paid for it & what you sold it for) up to $250,000 if you file your taxes as an individual and $500,000 if you file jointly with a spouse.Just a disclaimer, I am not a tax professional.

Might have to do a joint venture. 

Any tips on managing joint ownership or deciding to hold or sell would be greatly appreciated. 

Usually, when a new client approaches me with a wish list, there are often only a handful of properties actively on the market that are genuine prospects, and these are usually the hottest listings in any market.

I would get an attorney or title company involved to create your loan documents to ensure they comply with the law and cover all the aspects you need.Another method that is likely your best bet to take on investors is to create a joint venture (JV).

Here is a solid example you can adapt for a joint venture (there are differences, beyond just nomenclature, for a partnership and a joint venture): https://templatelab.com/joint-venture-agreement/Again, I would caution use of this document without a professional to review it.