If the first property is not a partnership and is just you, you can setup an LLC that is a disregarded entity such that it operates as an individual with just a SS# for tax identification purposes and then the LLC provides the asset protection and your new partner could do the same and the two disregarded LLC's could be the TIC owners and you have some level of asset protection. 

Appreciate any responses.  

I am a disciplined and passionate individual who would love the opportunity to learn more about the real estate industry.I grew up watching my dad lose his butt in the 08 crash.

Keep in mind that we are all growing our businesses so the generic "what do I need to know" may not get many responses.  

Any response help, thanks in advance!

Thanks for the quick responses! 

In a SFH the tenant is responsible for power, water and (if needed) gas. 

Any response help, thanks in advance!

@Bill WilliamsNew Mexico is one of about 9 states that has a Community Property right between married couples, which includes ( as I understand it), as stated previously, the home acquired prior to marriage belongs to the individual, not both of you; hence she would have the freedom to sell or mortgage that home anytime, without your consent involved.Any income earned from such a separate property belongs to the individual, but if you choose to share bank accounts and 'commingle' funds, and the house is sold, those proceeds placed into a joint account become community i.e. both of your funds.Community property is acquired by either spouse during marriage, and selling or  encumbrance requires both of your signatures.  

Those individuals will prefer a lower density say 2-3 unit building with a backyard and garage.