How do conventional loans work with a partnership?

[JD Barrera]

Hi everyone, wanted to see if I can get some feedback or advice from experienced folks out there. I'm partnering with my brother and we both have decent paying jobs to qualify for conventional financing. We'd like to maximize the amount of conventional loans we can use so I figured we'd switch off taking out loans for properties that come up (i.e. first property is a loan under my name, next property is a loan under him, etc.). In doing this, I want to split the out-of-pocket expenses with him (down payment + rehab) and obviously have the title under both our names. I spoke with a loan officer about this (in Texas) and he said we can't split the down payment without having both our names on the loan and thus limiting the amount of loans we can ultimately use. 

Has anyone done something similar or have any advice?