This will not require an additional tax filing requirement of a partnership return.Instead you and your partner would each report 50% of the income and deductions directly on your tax return form Schedule E.If you are looking for protection - you can obtain an insurance coverage as others have mentioned.

Well I think this is something that you and your husband need to discuss further and really dig into what fears/thoughts make him not want to invest in real estate.I am a buy and hold investor and I have had to have these kinds of conversations with my wife as well.What does he mean by he likes liquidity?

I see people on here all the time discussing what they are paying for the property in relation to the rent.

@Jennifer Jacobus reach out to; Becky ShinevarResidential Loan OfficerMLO #500943First National Bank of America241 East SaginawEast Lansing, MI 48823(I'm unable to attach phone and e-mail info (prohibited in forum) but feel free to contact me if you are unable to find using google search).This lender was recommended to me by another BP member and Becky and I discussed a mobile, pre HUD, that they were willing to finance. 

PM me if you are interested in discussing our goals. 

Nothing I have researched or heard, has discussed any of what you mentioned.

I am planning on starting a real estate class to obtain my license starting in May.

He is trying to obtain financing, however, he poses a huge liability risk for me.

Could I transfer the property back to myself to obtain conventional financing when I go to refinance it? 

I am shadowing you bigger pockets agents and investors by starting these discussions and using your responses as guidance.