If you are married and file a joint return, the tax-free amount doubles to $500,000.

I am 35, married and father of 3 boys.  

They enacted legislation a few years ago that now requires taxpayers to report each year to the California Franchise Tax Board as to the status of the property.  

My wife and I was in the same spot 3 years after we married.

If he got married his wife would also be liable for signing away his ownership interest so it could create hassles.Most cities have ordinances allowing no more than 3 unrelated people in the same residence. 

Is that a request for taxpayer I'D?

If no, go to step 4.Step 4: Are you married/registered domestic partner (RDP) filing separately with separate property income?

@Keith Smith,The IRS can issue them a Taxpayer Id Number (TIN).

Try out real-estate investing with something like house hacking (do it before you get married!). 

Now I'm married with a couple kids and my wife and I have started discussing what we are going to do with the house, which is what reignited my interest in real estate investing.