I'm willing to Joint Venture on deals as well.

So just like you could pay for coaching or a joint venture or something like that it's still going to cost you money but if you do it yourself and you fail well that's just part of the learning process.

@Alex KreegerMy lease identifies the tenants who are jointly liable for paying the rent (the adults) The lease goes on to identify the minor children that will also be occupying the home."

Also be sure you have a "joint and several" clause in the Rental Agreement.

If you are filing jointly, can your partner get REPS?

Titled the “More Homes on the Market Act” (H.R. 9015(link is external)), the legislation would double the capital gains exclusion for sales of principal residences from $250,000 to $500,000 for single filers and from $500,000 to $1 million for married couples filing a joint tax return, and also index these amounts for future inflation.

But were you my client, it is possible that after a thorough discussion we would jointly determine otherwise.

If you follow this scenario example, you do not need a joint LLC, partnership agreement, etc. 

Everyone is jointly and severally liable, so if rent is not paid in full, then the entire lease is in default.

This Friday I am closing on my second fourplex in the same neighborhood, this one as a joint venture.