Structuring Investment Entity

[Heidi Cousineau]

Hello!

I am working on closing my first mortgage on a property in South Florida. I intend to househack or STR, but with my friend who will be my 50/50 partner. Can someone please share advice on how to do this the right way? I will hold the mortgage, but we will split all costs, form an LLC, and be joint owners of the LLC. I just want to make sure she has equal ownership, even if not on the mortgage.

In my research, im finding the watch out is that if we do a quick claim deed, the note could be called due in full. Any way around that or suggestions on how to structure?