Selling Equity in Primary for Downpayment

[Enrique Villarreal]

Hey BP

I’m looking to move out of my primary residence which I’ve owned for nearly 10 years and have $190k equity ($380ish market value) and low low loan rate.  I don’t want to sell the property, but I’m still going to need a down payment for my next house we’re moving into.  My plan is to work with a local partner, sell a X% equity into my primary for a down payment and convert the property to a long term rental. 

Does anyone see any challenges with this strategy that might trigger a due on sell or some other restriction?  I assume we can work directly with the title company to add them on title and draft a simple operating agreement. 

Any thoughts on this strategy ?

Thanks!