What's Pro/Cons of 2 Veterans Considering Using VA Loan To Buy A 6-7 Unit Property

[Edwin De leon]

Have a friend, that is also a Veteran who both wish to use the VA LOAN benefits to buy 6-7 unit property, but wish to weigh out the pros and cons of doing this together to purchase multiple properties possibly, we are both older men, no spring chicken anymore, so need to tread water lightly and minimize mistakes, and maximize buying decisions.

I fear about complications, a fall out between me and my future partner, death and the property now is owned by 2 men me and my partner, I am looking for all the reasons why I should leverage the buying power between both of us, this means we can both qualify possibly for $600k-$700k mortgage together, this is powerful since we can use this leverage to buy a few more other units but of course what headaches will i be facing if I choose to partner up.  Here are some questions I have below.

What questions should I be asking myself before making a decision about partnering up with this person.

What are the pros and cons of possibly purchasing multifamily together 

What strategies should we consider in buying multifamily properties since we both wish to use our VA LOAN to purchase together.

[Jonathan Taylor Smith]

@Edwin De leon - Are you even able to use a VA loan to purchase a property with more than 4 units? I thought VA loans were limited to 1 to 4 unit properties.