After a certain number knee of years as a broker, I can apply to be a managing broker.  

Antonio,A joint venture does not, in itself, create any protection.

No, you learned by falling down and skinning your knees, then you got up and did it again.

If you file a joint return, do not count your spouse's personal services to determine whether you met the preceding requirements.

If it is Bellasario's, Kings or Il Forno...buy the pizza joint too!

The adding of title is not taking away the asset for a personal use, it is joining the asset for the couples joint use.As an aside, having her take title when you bought (and capitalized it) really didn't do anything even though it was her first house owned.  

Even though it's a partnership since we are the only owners the full basis would transfer to our jointly filed individual return. 

If it is husband and wife that are members there may be legal reason to do as joint members or  as a  single member.

Trustee must submit it to the lender - who knows - you might get lucky.Foreclosures can be profitable - but you are safer to buy at the auction - if you don't have the cash or a credit line - you should put together a joint ventures with friends or relatives - let them know what you are doing and how they can profit.

The way I would solve this is take title with wifey then convey to jointly-owned LLC in exact percentage as acquisition/LLC membership.