Investment property advice

[Elizabeth Pratt]

Hey BP family,

I have a question, I’m hoping someone good lend some good advice. I am in process of finding an investment property but I haven’t exactly figured out financing yet.

I currently own my own single family property which my spouse and I occupy. My spouses name is not on our primary residence. My lender suggested putting the investment property in my spouses name as it will allow for better financing options (I.e lower down payment and FHA option). I am a little weary of this because we will have to file taxes separately and will have to have separate addresses, and etc. it seems like a headache and I don't want to risk getting in any potential trouble for doing so. What are everyone's thoughts on this? Is it a good idea or not

Also to give a little more context, I do have a heloc with about 28k of equity available for use and some personal cash. However, I don’t want to use my personal reserves if I don’t have to. Homes in my area of southcoast MA are pretty expensive so putting down 20-25% for a down payment is not feasible right now. I am looking for a 3-4 family, but these homes in my area are averaging high 300s to mid 500s. 

Any advice will help, thank you!