If you're sure of your numbers, get the seller to do a joint venture with you, form a partnership to take title to the property, you put up the money and do work for rehab, and you split net proceeds upon sale.

You don't want it to get that far.If you and your spouse file a joint tax return then you are both the taxpayer for the property regardless of the fact that you are the only one on the deed. 

Your Joint personal and business accounts are frozen.

You may all be liable jointly and severally for the loan but they will have to be on title to the correct amount as a tenant in common owner with you for the right % in order for it to work with the exchange.

-Whether you do the joint LLC or just set up a JV agreement to handle these things on the side.... make sure you also spell out what happens if there is a shortfall.

. - Additional $1400 in stimulus for people making $75K or $150K jointly with a roll off. - $15,000 tax credit for first time home buyers, paid at the time of closing. - Plan to step Federal minimum wage up to $15 per hour.

While networking I was asked to do a Joint Venture.

Can the two trusts now split the proceeds to go in  separate directions with each Trust buying property that is not jointly owned and still maintain the tax deferment?

Because although it's near impossible to do single family homes here in Cali, mobile homes seem like a real possibility but I'm always very iffy about manufactured properties because it's hard to rent them out and I'm not much of a flipper myself.I am intrigued by what you have done and since I am in the area I would love to meet up and talk joint venture on something like this.Thanks-Rizzy

Most of this pertains to contract considerations, but also curious how you would suggest tax benefits to be structured and how we should take joint title to the property (through business name, tenancy in common, etc).