There is also the issue of who a beneficiary is behind the ploys of using family or entities, who benefited from that note, if you and your wife have a joint account, your spouse isn't really a separate person as you have marital interests. 

When we bought our first income property we opened a regular joint checking account at PNC Bank, which was the bank where we opened a HELOC to fund the new property downpayment + closing costs, and also the bank for provided us with a mortgage for the new property.

On at least half a dozen occasions I drive by and see them doing a joint cookout with my AIR BnB guests. 

I am interested in how everyone sets up their joint ventures.  

IF you are limited to 8-foot boards or in any situation where you can't run the boards fully across, take a look at this, John, for your ceiling butt joints.

Purchase price: $30,001 Cash invested: $27,000 Sale price: $89,000 Nice $32,899 profit for my Joint Venture partners on this deal.

I'm seeing that a GP/LP split and full PPM is out of the scope of this smaller multi-family deal and hearing that a Joint Venture structure is more common to pull together multiple investors.

.- Not sure this matters, but I am filing jointly with my husband for 2020, but will file on my own in 2021 (divorce :( ), so my tax bracket will be much lower in 2021.My tax prep guy doesn't really know alot about rental properties, but said he could "probably figure it out" :/ But I am sure there is a lot of knowledge in this forum that can help.

In order to avoid needing to create an SEC registered vehicle, I'm structuring this as a Joint Venture, which to my understanding does not need to be registered if the equity partners are not completely passive (and only a limited # of partners). 

I’d rather make half as much from my car, couch or the beach than all of it from my knees.