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Updated over 4 years ago,
Investing in rental SFH with my Daughter
My daughter is interested in going in 50/50 on my next OOS SFH rental purchase. I'm trying to figure out what is the best method to move forward. I can qualify for the loan on my own, but wanted her to be able to claim 50% of mortgage interest, 50% of real estate tax, and 50% of deprecation. She would not have any problems in qualifying for 50% of the loan.
I have no worries of her not holding up any end of the deal. I was thinking it would be easier for me to get the loan myself, then put her name down on the deed for the property. However not sure if I did this would should be able to write off 50% of property for tax.
I wanted to verify for tax purposes, would both our names would need to be on the loan?
Thanks