My mentor was too busy to do the one thing he promised me he would do: create a joint venture contract for the deal.

We don’t have a joint account yet for the LLC so I’m just wondering what the process would be— if any— to shift all the costs especially rehab costs to the LLC.

Here are a couple you might explore: Sec 121 Exclusion you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse.

However, this 100 mile rule can be exempted for the following rulesRelocationIncrease in family sizeVacating a joint owned propertyNon-occupying co-borrowerIf you are not trying to use FHA on your 2nd househack, you can use conventional and the rules that I mentioned above will not be a concern.

I agreed to screen the couple to potentially add them to a new lease jointly and severally with the original two, and found neither has adequate verifiable income, and one has no credit history at all. 

Has anyone joint ventured on new construction projects?

Like if the faucet in the kitchen breaks and leaks all over the floor, you'd be ok with tile or hardwood...LVP you're probably going to have to pull up unless the supposedly waterproof joints work.I guess my advice is, LVP is great unless you have an issue with it (broken plank, water). 

You also need to have them jointly and severally liable for each other.

I have separate leases for each room (although there are pros and cons to joint and several as well) and use Turbotenant for rent collection, storing signed leases, tax reporting, etc. 

It's very close to Joint Base Charleston.