A better approach to me seems like you would both invest separately into an LLC you own jointly with her, then do whatever you are going to do with that LLC.  

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I'm thinking about seeking a joint venture partner for flips.

Look up the term, "joint and severally liable". :)  

A good agent should help guide u through some of the local markets.

I too use a type of Metic model that figures out what an area in a state will be the most inconsiderable rental decrease, letting me know how I can purchase a home today, and by research of that area (as well as other up and downs) can produce 2 yr prediction of what my sell price should be/what rents should be etc....my point is trying to be sophisticated is great but...getting rid of a deal FAST...it's time for a fire sale if u ask me!!

@Robert Karvelsson I would try to see if somehow u can come up with the cash and use the power of cash to purchase below market value, rehab, then refinance after 6 months at arv.

The IRA custodian will have direction of investment forms that the investor will need to complete and submit along with the documentation needed for the investment (i.e. mortgage, promissory note, private placement memorandum, joint venture agreement, etc.) in order to fund the transaction.

It happens all the time where one partner in a joint venture handles the day to day while another manages the project, leasing, etc. just depends what your thoughts are on structure between you.

great story. one day when i grow up i want to be just like u!