That is the best way to structure it, you would treat it the same way as if renting to strangers because it is an arm's length transaction.

You could grab someone's arm and be charged with battery. 

Better off using a 5% ARM or conv and then hope to drop PMI early with appreciation and if not at 80% LTV automatically.

It is a Fannie Mae ARM with the first year being X and the remaining term of the loan increasing and becoming fixed by 1% the following year for the remainder of the 30 year loan.

Current student loan is at $102K at 7.9% Im looking to take out only the amount owed at 4.09% (5/1 30-year ARM) because we plan to sell in 2 yrs anyhow.

The biggest and best-armed gang in Green Bay, the police, is on your side.

I mean, when was the last time you saw a billionaire with a woman on his arm less than a 9 or 10?

We ended up using a Navy FCU 7 yr ARM and bought an old colonial in the yachting village/ lower Thames.

I don't invest in them normally but numbers work and over 40k of instant equity and a double digit growth market. 

I do plan on keeping the acreage regardless of what I decide.Some of the numbers:  I bought the house and acreage for a total of $125,500.I currently have an ARM which the rate is at 4.125%.