House Hacking with a Business Partner Money Flow

[Kellen Robertson]

Hello Bigger Pockets Readers. I am planning on asking this question to my tax attorney and tax adviser, but I wanted to get some feedback and ideas on here first. 

I am currently under contract on my first real estate property (and first home purchase) a 3 bed, 2 bath SFH. My brother is my investment partner and we have a 50/50 interest in the costs and income produced from this property. Due to financial reasons, it was in our best interest to use my name solely as the owner of the house. I will be living in the home and house-hacking with two other roommates.

My question is: what should the money flow be in order to maximize income and reduce taxes while following all laws? My initial thoughts are having my roommates pay me rent and I write a single check to our business entity with the full months rent. Then after saving for cap X, maintenance, etc, the business entity would pay me back the half of the mortgage payment and 50% of any remaining income produced. 

I appreciate your input and expertise.