How to structure a non-partnership deal

[Ben Lockspeiser]

I want to purchase a STR with family members as a second home so I can put 10% down. They want a place to park their money and see some appreciation and return, and I want to use it as a way to offset my w-2 taxes which my CPA has advised is the best way at this point. So I'm curious how best to structure a purchase deal that isn't a partnership but instead something with debt or equity.

[John Underwood]

Quote from @Ben Lockspeiser:

I want to purchase a STR with family members as a second home so I can put 10% down. They want a place to park their money and see some appreciation and return, and I want to use it as a way to offset my w-2 taxes which my CPA has advised is the best way at this point. So I'm curious how best to structure a purchase deal that isn't a partnership but instead something with debt or equity.

You'll need to put this in your name to get a 2nd home loan. Might be able to add family. If you plan on making your property a commercial STR on a 2nd home loan, this could be seen as mortgage fraud. Talk to different mortgage brokers and make sure they are ok with your plans.