Funding a business partner’s house hack

[Sean McDonald]

What’s the best way to partner with someone on a house hack? Specifically, I would like to fund the house hack, but not actually live there myself. Instead, my business partner would use the property as a primary residence while renting out the remainder of the property. What would be the best way to set this up and what tax implications would having the partner stay there but not live there myself. Would the partner be get more tax advantages, but not me, or could we both benefit on our taxes? Property tax rates and taxes at sale are the two areas I’m thinking about specifically. However, if there are other tax implications and/or other thoughts on this idea, they are welcome as well.