I just closed on a note deal where the joint venture investor put up $19k and we expect a pretty good return when we exit the deal.

Just make sure you have it agreed to in your joint venture contract.

I think that's where I lucked out, people may have just assumed it was a single family home, it was also being sold through the court system as-is (joint ownership, one owner passed away). 

@Dave PrickenA  joint-venturer or business partner with more than 10% control or stake in profits is considered to be a disqualified party to your IRA. 

Quitclaiming the property to your LLC owned in your name - and the name of your spouse if you purchased the property as joint owners (read my previous post above) is only part of asset protection you want to pursue.Yes, "Sam the human" pays the mortgage, not Sam the LLC - but understand that Sam the human is the person who's name is on Sam the LLC's bank account as an authorized signatory as Sam the Managing Member.  

You need joint compound. 

Hello,My wife and I jointly own a rental property that we report on our Schedule E.

All,As you can probably guess, I am looking to close my first investment, but don't have proof of funds nor liquidity to put down an earnest money payment. I have significant experience in the syndication space (my ol...

It's an inferior building in an inferior location.

Lucky you haven’t been burned by not knowing that.However, as others have Said, a sheriff sale is a judicial foreclosure so a second can’t bring a foreclosure to auction with the first given notification at which time they would have a inferior claim.