I agree that separate LLC's are the way to go.I wouldn't have any ownership in my sister's property but I was considering a joint "Branding" that could benefit us both. 

I will add him to the lease and ensure the new lease states all are jointly and severely responsible for rents due.

It's a jointly owned multifamily rental in Westchester County, NY.

My point is, u always have to verify others work if u want it done right.

Ideally the investors would invest in a “debt fund“ for an agreed upon interest return, like 10-12%, providing me flexibility to function as the general partner who can acquire multiple properties without the liability of joint ownership issues like if I had equity investors.

Ideally the investors would invest in the “debt fund“ for an agreed upon interest return, like 10-12%, providing me flexibility to function as the general partner who can acquire multiple properties without the liability of joint ownership issues like if I had equity investors.

Jason,  do u insure AZ property?

If you will be Jumping in to a joint venture, you will need to ensure to have an exit strategy and go over every single situation possible to avoid any issues with your sister when problems arise.

@Chad U.

My sister in law will be starting her residency at Wash U this summer.