If you enter into joint venture with another party and get interest plus equity on your investment this would not be considered passive and will result in UBIT. 

That is best done by doing a Joint Venture on the first couple.

We require all adults (age 18 and above) to qualify to live in the unit and be named as a party to the rental agreement, jointly and severally liable. 

Joint Venture with an experienced investorMake yourself valuable ( bring something to the table other than money)Owner Financing dealsWholesale homes.I recommend reading the NO Money Down book on Bigger Pockets, ( No plugging intended ) great book for giving ideas on creative financing .

@Jason Gott Partnerships and joint ventures are tricky.

We have a couple of properties that required some work, but we know nothing about that part of investing, so we have a joint partnership with other investors who ARE qualified to do that work, we both benefit from the transaction. 

I don’t know about your proposed strategies, but if she is no longer married she won’t be filing jointly, so her exemption is $250k.

I use an economic unit addendum, which basically states that they are jointly and severely liable for all terms of the lease. 

You might want to consider forming a Joint Venture instead of a partnership.

Interested to hear ideas regarding how to structure a partnership correctly so it is win/win for both sides.We are young and able to act as the "boots on the ground" to handle all the day to day operations of the prop...