STR Partnership (Vacation Home Loan Qualifications)

[Logan Day]

Hi all,

I wanted to get the brains at BP's opinion on this.

I was looking into beach front homes to use as a STR in FL. I am hoping that I can use a 10 percent down loan for this and classify it as a vacation home. I want to bring a partner in to mitigate risk and also cut down on the amount of capital needed to fund the deal, since most of these homes are in the 650-750 range.

Is the logic sound here or am I missing something on how this loan could work? Would it even be possible to use a partnership and still qualify for this type of loan? Apologies in advance. I am brand new to all this and still learning every day.

Thanks as always!