Funding First Property - Owner Occupied

[Bryce Baker]

I've been analyzing condos in 92102 and believe I can make a 2B/2BA work with an FHA owner occupied loan just so I can get my feet wet with my first deal and stop wasting my money renting. I believe I can leverage direct family to provide the capital for anything above what I cannot afford in terms of closing costs and unanticipated costs that may arise during my first purchase. My question is how do I involve my family in the deal for an owner occupied purchase? Can it be structured so that they receive benefits from appreciation, etc? I simply want to get things rolling and a condo that makes my housing expense tolerable by renting out the other room seems to be my best option at this point. All input appreciated, thank you!