Potential problems if brother gets the mortgage

[Marcin G.]

Hi,

I found a condo for an investment with tenant already in placewith a lease till 2019. My problem is that I cannot get conventional mortgage because I am only 3.5 years after foreclosure of condo in Florida. I spoke to my brother who has perfect credit and he is willing to help.

What is the best way to go ahead with this investment?

1) Can he just co-sign the mortgage? I would be the owner on the deed and do taxes for this investment property, and be responsible for any tax on capital gain when I sell.

2) OR the only way would be if he purchases the condo for himself?

3) What other potential issues I should be considering?

Thank you for any guidance in advance!