My spouse and I are the only members, and we file a joint return.

Also, you can treat an LLC as a "disregarded entity" for tax purposes meaning you can file it on you personal tax return as long as it is a single member LLC or just you and your spouse depending on your state laws regarding spousal joint property rights.Hope this helps,Good luck!  

The percentage of the property allocated as your primary residence would still be treated as a primary residence upon sale, which would allow you to utilize the Section 121 universal exclusion of capital gains of $250,000 for an individual or $500,000 for a married couple filing jointly.

Does anyone have experience with structuring a joint venture or partnership in the Scranton/WB area?

However, if you have used it as your primary residence for at least 2 out of the last 5 years, you would be eligible for the Section 121 Universal Exclusion of gain for primary residence of up to $250K for an individual or $500K for a married couple filing jointly.

For example, in 2018 a married couple filing jointly can have taxable income (after deductions) between $77,400 and $165,000 and remain within the 22% tax bracket.

People are only thinking about investing personally...Possible via Corporation and commercial lending ....Easiest is JV [Joint venture] with someone local - 

A joint venture (JV) is a great strategy to propose to them so you can learn and leverage their experience for your first 5-deals.

It's a joint effort to get everyone educated and equipped to become successful at real estate investing. 

I created a joint venture agreement and a Land Trust, we signed off on the JV agreement and then we quit claimed the property into the Land Trust with her and my Solo 401k as the co-beneficiaries.