If you and your wife file a joint married tax return then that property is being reported on your combined schedule E. 

When possible I even propose to do  joint ventures with PM's.

I am sure you guys are filing married filing jointly now, so even after LLC, you would file the same.LLC just acts as the bridge, the amount of income from rental or tutoring will have same effect with or without LLC. 

@Gabe Cole Have a lawyer draft a rock solid Joint Venture agreement.

@Aram Velazquez Our primary house has only me on mortgage yet when getting investment property on my wife’s name, lender considered her responsible for 100% of Insurance and property tax (because title is in our joint name).

Plus one of the benefits you'll be interacting with lots of people - sellers and buyers and may by chance come across your future partner to jointly buy MFH.  

Joint ventures6.

It was the real big flip project for us this year and especially important one because I had joint venture with new investor who came to know from Bigger pockets.

If you enter into joint venture with another party and get interest plus equity on your investment this would not be considered passive and will result in UBIT. 

That is best done by doing a Joint Venture on the first couple.