House hack with partner 50/50

[Kevin Klaas]

Hi everyone, newbie investor here. 

Was wondering if anyone has done a house hack with a partner? And if so, is it required that you both live on the property? Would love to hear some thoughts. Any help is greatly appreciated.

Thank you!

[John Lyszczyk]

I've done this with my brother, but we decided to put the loan just in his name. We did that so the loan wouldn't negatively impact BOTH of our DTIs. We were keeping in mind future acquisitions. In Michigan, you can have up to 10 mortgages in your name. We didn't want to have both of our names on the loan if we didn't have to. His name was on the title originally, but after one year we did a quick claim deed into our LLC. Be mindful of how leverage can impact your DTI.