House Hacking Partnership

[Michael Wilson]

Hey Everyone!

I'm looking for some advice here! My wife and I currently own our primary residence and are looking to get into multifamily investing. I just read the book on investing in real estate with low and no money down and my mind has been spinning, thinking about creative financing! Here is where I need some help. 

My brother is looking to get into real estate as well but doesn't have the capital to get in the game. Would it be a good idea for us to go in together on a multifamily unit and get a 203k or other FHA loan in his name and get started by splitting the 3.5% down? He would live in one side while managing the property and renting out the other unit(s). This is obviously assuming that after running the numbers, the deal we find is a good one. 

What do y'all think? Thanks!