The house was jointly owned by a brother and sister and both of their families lived in separate units and they each needed to find a new house to buy and live in before they could move out.

And, they put joint compound over 1/4 plywood instead of drywalling it, just weird.

@Bill WilliamsNew Mexico is one of about 9 states that has a Community Property right between married couples, which includes ( as I understand it), as stated previously, the home acquired prior to marriage belongs to the individual, not both of you; hence she would have the freedom to sell or mortgage that home anytime, without your consent involved.Any income earned from such a separate property belongs to the individual, but if you choose to share bank accounts and 'commingle' funds, and the house is sold, those proceeds placed into a joint account become community i.e. both of your funds.Community property is acquired by either spouse during marriage, and selling or  encumbrance requires both of your signatures.  

As a Private Lender, you can joint venture with Rehabbers on their projects.. and you can charge them interest during the project, and also Split Net Profits with the Rehabber once the property sells on the market.

I am super excited to meeting other investors or possible joint ventures partner. 

It just doesn't have to be YOUR money.It could be a partner who brings cash to the relationship / partnership / joint venture / whatever.Cash-poor "lone rangers" don't fare very well in REI.

I'm also open to joint venturing on properties! 

Provided I follow all the timelines and hold property "A" as joint tenants with my partner?

So, I revisited the Matrix and really investigated this joint venture/mentor/student thing.

Less head aches.