Here are the phase-out ranges for 2018: For single taxpayers covered by a workplace retirement plan, the phase-out range is $63,000 to $73,000, up from $62,000 to $72,000.For married couples filing jointly, where the spouse making the IRA contribution is covered by a workplace retirement plan, the phase-out range is $101,000 to $121,000, up from $99,000 to $119,000.For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple’s income is between $189,000 and $199,000, up from $186,000 and $196,000.For a married individual filing a separate return who is covered by a workplace retirement plan, the phase-out range is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.The income phase-out range for taxpayers making contributions to a Roth IRA is $120,000 to $135,000 for singles and heads of household, up from $118,000 to $133,000.

If your going to buy under 10 a year and not make it a business my recommendation will be to joint venture with someone.

Death of joint tenant filings.

I explained all that is going on to my wife, she may offer to get her real estate license, therefore we file taxes jointly and have a real estate professional... again, more reading to do.I would definitely be way over the $150K income exclusion for now, but am hoping to retire soon and drop my income to about $100K.

Here are some things to consider below.Kitchen pantriesSoft closing cabinets Dovetail joints - Adds a nicer finish to the cabinetry With a higher-end rental, you might consider a pot filler above the range The latest trend in cabinet colors and paints - you can use Pinterest for thisFloating Shelves - reduce cost and adds aesthetic to the feel (base shelves are more expensive than uppers)Functionality is key - Storage for plates, pots, and pans 12x24 tile flooring offers the best bang for the buck Splurge on the backsplash because it is very inexpensive to do adds appealDepending on the dimensions of the room, you may consider a smaller upper cabinetHope this was helpful BP family!

Usually though there will be one loan on the property and each tenant is jointly and severally liable (with recourse financing). 

You can't however "joint venture" or "partner" with another wholesaler and market a property they have under contract. 

@Alice Chen, no, I meant that if the property is already assessed at over $1 million, then only the first $1 million of transfer is excluded from change in ownership under Proposition 58 if you do it by Feb 15, 2021, and so you can transfer whatever percent that adds up to $1 million of assessed value.I think you are describing a joint tenancy, in which the “original transferors” are treated as the owners under Proposition 13 and 100% of the property is transferred to the “other than original transferors” when the “original owners” die (basically, creating a joint tenancy to add a child is treated similar to a will) (BoE rule 462.040 https://www.boe.ca.gov/proptax...).

It is next to another STR I have, and having both would allow me to offer joint bookings and access a wider market to house 12+ people. 

I think the issue would be the ownership structure in relation to passing something on - if someone who owns the property dies, is it inherited by their multiple children and then you have to navigate all of their schedules and desires, or is it owned in joint tenancy -- if you happen to die before you sell your shares you are just unlucky because the ownership is redistributed to the other owners and not passed onto heirs?