Purchasing 2 properties for lump sum. How to divide mortgages.

[Jared Mcgrew]

We are hoping to close on two single family residences that will be purchased from the same owner. We have offered one lump sum to the owner, but need advice on how we should split the loan amounts. Details: -We will be living in one of the homes and the other is currently tenant occupied and will remain a rental property. -the homes are roughly the same square footage. The rental is a 2/2 and the one we will be moving into will be a 2/1. -I anticipate both houses will appraise for roughly the same amount -we are located in Texas and can benefit from a homestead exemption for property taxes on the house we are living in. Questions: -are there tax benefits that would enable us to save (write off/shelter) more $ if the rental property has a higher mortgage / value. -we intend to purchase more properties. Would we be better off setting the rental property up to show a lower purchase price (and therefore significantly higher cash flow) for future loans / showing a good track record? Or would this end up just being a wash against our primary residence? Any thoughts or concerns we haven’t considered?