Trying to get second home mortgage! HELP PLEASE!! Newbie ALERT!!

[Rebecca Cramer]

Hi everyone! We need direction with how to make this work! The issue are presented with right now is we are going in on a property 50/50 with my parents. We are splitting the down payment and mortgage. We were going to do it in my name since I don't have a second home in my name (our short term beach rental is in my husbands name) and my dad's name who also has no second home in his name. The problem is that our primary residence is in my name and I don't make enough working part time as a nurse to cover our primary residence mortgage and do a second home mortgage on paper. The majority of the money I am making now is with the rental (I manage it through airbnb and doing REALLY WELL) but they cant take the rental income as income until its been 2 years. I want to be able to write off the mortgage, insurance and property tax, can I do that by not being on the mortgage and just being on the title? Is it an option to transfer the title of our primary residence to my husbands name so they wont "count" that mortgage against me? We want to put an offer on the house we are interested in tomorrow or Thursday. Any help would be appreciated. Thanks!