Private Money to pay off Mortgage. Should I?

[Timothy Casallas]

Hello BP,

Heres my situation and my question:

I bought a condo in Niceville Florida for 110k and I have a mortgage of about 80k. I am house hacking it so I have a roommate and make a great profit. However, I am leaving in April and will have to hire a PM and my income will be way less. Because of this, the house will pretty much break even after all expenses are accounted for. ($30 profit monthly)

I was thinking about getting people to invest in my house (Family, Close friends) up to 80k. The amount that they decide to put in will determine how much return they receive monthly based off the purchase price. 80k = $490, 40k = $245, 20k = $122 etc. 

By paying off the mortgage, I'll free up my debt to income ratio and also be free of paying the bank all that interest. Little by little I'll buy off the people that put money in as if I was paying a mortgage. 

I am not seeing any cons to this, it seems like a win-win for everyone. Is there anything I am missing?

[Casity Kao]

@Timothy Casallas If it is not a good investment for you, why is it a good investment for your family.  I feel I'm missing something.