How to best partner with a house hacker

[Bryan Champ]

I have a competent and trustworthy friend that is great in many aspects of construction and rehabbing. I have money but not the time or ability to do the rehab. We are great complements to each other and we go way back so he’s someone I trust.

Couple questions:

1) if we had a partnership, and he lived in the house, does that qualify as ‘owner occupied’ for bank financing purposes? Ie do I have to put 20-25% down or can we put owner occupied down such as 3% down?

2) how have others handled the partnership?