Structuring equity partnerships with 10% down vacation home loan

[David Rosenbeck]

Hello everyone! Was hoping for some guidance on how others have structured their short term rental deals with equity partners. I work with a lot of very high earning W2 individuals that want to get into investing. I have two Airbnb's and they like the idea of this model. The way that I would structure the deals is they are the silent equity partner while I'm the boots on the ground and day to day management. I would want to take advantage of the 10% down vacation home loan to help get into some of these more pricey vacation home markets to keep capital outlay as low as possible in the beginning for my investors. I've read Avery Carl's book Short term rental long term wealth but there's still some questions I have mainly in regards to the structure of the partnership. 

1) I realize that the 10% down vacation home loan needs to be held in one individuals name. Has anyone utilized this loan package by having the equity partner put down the cash and obtain the loan and then transfer the property to a 50/50 owned LLC to then ensure the equity split for the sweat equity partner? I've spoken with the Mortgage Shop (Mortgage company associated with the Short Term Shop) and he said that there were individuals that transfer the property into an LLC after closing and they were OK with it (thus avoiding the potential for due on sale clause).

2) How would taxes look for a partnership like this? I realize that the LLC would be taxed but those taxes would pass through to the owners of the LLC. So, since I'm not technically on the loan would I be able to take advantage of any of the tax advantages with real estate or would it only be the capital partner since they are the one on the loan?

Those are my main two questions in regards to partnerships with the 10% down vacation home loan. I have a meeting with my real estate attorney next week and will be meeting with my CPA in the near future to discuss this as well and also have my initial consultation with the Short Term Shop Feb 3rd but figured I'd start asking questions here to be able to ask more clear cut questions to the professionals I will be meeting with in the near future. Would love to hear from someone who has structured deals utilizing the 10% down loan in a partnership. Thanks in advance for any advice! 

David