House Hacking with a partner

[Sean Gimpert]

I am wondering if anyone has experience working with a partner when the partner was the person living in the house for the actual house hack.

For some context, my sister wants to rent for one more year before finding somewhere permanent to live.

I am trying to convince her to house hack instead of paying rent to someone else. But she really wouldn’t want to manage a rental, or know how to find a good rentals to buy.

To make a long story short, I think we both have something to bring to the table. She could get into a house with low cash because of a FHA. And I could help her find the deal and manage the property long term. I have property management experience already. That way after a year she could walk away go buy her forever home but also still have a passive income stream.

Has anyone done a similar situation or have any advice on what a fair agreement might be? It is my sister so I don’t want to take advantage of her, but I want something that would be beneficial to both our time and risks we are taking on.