I mainly focus on New Jersey, New York, and Maryland for opportunities.I'm all about creating Joint Ventures with capital partners for mutual success.

The spiral metal staircase leading up to the front door was so steep that after a month our knees were in pain. 

We file our taxes jointly.  

@Gerald Maczuga,The Long Term Capital Gains rates for 2024 include a 0% bracket for "married filing jointly" that caps off at $94,050.  

If your spouse meets all three tests, having them qualify as a real estate professional makes your rental losses fully deductible on a jointly filed tax return. 1.

From my research it appears that I cannot use the Qualified Joint Venture to form a single member LLC for husband+wife, because I live in NC which is not a community property state.1.

- If LLC isn't the best route, what other things would we have to do to ensure a successful partnership (e.g. joint bank account, partnership agreement, etc.)If you have any advice beyond these points that would be much appreciated!

It's mentally and physically exhausting but it doesn't tear up your joints. 

I have read several threads on this, but I am a newbie and still a bit confused.We are married filing jointly with an income close to 150k last year.

There doesn't seem to be another option. 3) Do my spouse and I have to file two separate NPT returns for the rental income as we are joint federal filers?