Hey Nick,Are you holding your duplex as individuals/sole prop or within an entity? 

You could add the commercial entity as a co-tenant.

Be careful of firms trying to sell you on $7k plus packages and complex entity structures.

The only tax reporting entity is FLLC2 as a partnership.Limitation of Liability:While the FLT is looked through, the WLLC & FLLC1 offers limitation of liability coming from the property.

You're not allowed to change the type of income by slapping a different label on it or channeling it through some entity.  

Here's my take....you're making things more complicated on every front.1) Buying in Chicago, a very tenant friendly City.2) Bringing in a partner when you don't really need to.3) Buying an expensive property instead of starting off with something more4) Forming an LLC entity right off the bat.Just my $0.02...

Once you start to scale and/or need to use a loan in the name of an entity, you'll want to start an LLC for that and accounting purposes. 

A point I should have made above is that entity is still borrowing 65-80% of the purchase price (another bullet for the love list.

If you have corporate Taco Bell that owns thousands of locations but the lease is backed by a remote single entity LLC for the guaranty then it is WORTHLESS.

So, yes, you can do this but you have to get financing through an entity in that country.