We jointly designed the house to their specs.

If you jointly own it as a rentalwho will manage the property for everyone?

Joint tax return?  

That is like trying to sell a tofu burger to an animal rights activist having to disclose that the building attached to your tofu burger joint is a slaughterhouse you also own where they slaughter baby cows, and using the exact knife that slaughtered the cow to cut the tofu.

If you have a RE attorney and mortgage broker then I am assuming you are using some type of joint venture or participation agreement to outline who gets paid what and who is in what position as you tranche the loan.

Joint Venture.

Nope I do not intend to do any business of the lending variety in Vegas I only do joint ventures there. 

all are new constructions and I don't know how she is gonna be able to find 750h of work to do in these new construction houses.Any help appreciated Good questions, first the IRS requirements to meet Real Estate Professional Status (REPS) are: > 50 percent of his/her time working in real property businesses; AND, 750 hours of service during the year ANDAt least %5 ownerIf married filing jointly, one spouse must meet 750 hour requirement on their own.

Thankyou @Paul Azad, the relationship between Monday and RSN was described as a joint venture, meaning both groups would be responsible, and actively involved, in asset management and decision making.  

Instead, Use a partner in a joint venture.