. $500k if married and filing jointly.

I just use a Joint Venture Agreement with distribution of profits that reflects the training and the risks.Here's a post I did on Subject To that may helpUsing Subject To, to Get "Free" Properties https://www.biggerpockets.com/forums/311/topics/1060320-using-subject-to-to-get-free-properties-a-quick-guideline 

Partnerships are messy.I'd suggest you either act as a hard money lender for the project and follow standard underwriting procedures with a DOT & Promissory Note prepared by an attorney or form a Joint Venture where you each have separate entities that are coming together for a common goal.

Even better - use an online service where they can pay with ACH.

Should we take out a joint mortgage?

You file seperately or jointly?

As long as the property isn’t too much of a head ache, I think it would be smart to hold on to it.

My wife and I have a joint bank account, And she also has her own personal account.

They make their real money by massive advertising, & youtube gives them an army of people looking for properties for them to joint venture with.

They make their real money by massive advertising, & youtube gives them an army of people looking for properties for them to joint venture with.