Life events, death, law suit, bankruptcy, might be a marriage that gives reason to look at leasehold interests.

Those are called "nominal recordings", usually done by divorce, marriage, inheritance, etc where there is no sale of the property involved.

You could also look at the paperwork for the purchase closing and go back to the lawyer who handled it.You probably have a simpler situation if it was a single member LLC but the situation could become complicated by a multi-member LLC or any changes in legal status (marriage/divorce) of the member even for a single member LLC.

What if the marriage becomes rocky?

Not sure your marriage would survive all the drama of living in a rehab-in-process but you might consider an FHA 203k loan to purchase and rehab (if the government decides to go back to work).

If a collector wishes to charge (collect from) a particular owner, unless the other owner is legally bound to share assets, like a marriage or subsidiary company, than the debt is only against the debtor's interest.

I know here that the division of assets in a divorce have forced liquidations of assets when held individually outside the marriage?

Well, Newton would sometimes sleep over there and a few nights a week Newton’s daughter (from a previous marriage) would stay with him as well.

It took us a year; we did a lot of the work ourselves, and eventually finished the house with our 2 year-old marriage still intact.

" :)My husband and I simply lived very frugally the first few years of our marriage in order to save up enough money for our first buy and hold rental.