However, I don't like this idea because it creates Loan A (the equity you borrow against your home) and Loan B (the purchase of the investment).

I would do the following, at a minimum:-request that he complete your rental application (hopefully you have a thorough application),-request identification documents (government-issued),-require that he provide you with proof of his visa status and the authorized length of stay,-verify his employment, income, and financial stability, and-contact his previous landlords for references.If he cannot satisfy these application requirements, do not approve.

@Bill B.

I would seriously consider househacking a 2-4 unit property in like a B neighborhood.

🤦‍♂️Quick story: In 2011, after several months of searching, I found a decent, brick side-by-side duplex in a B+ neighborhood with a good school district.

My experience is that mobiles/manufactured homes fall into three categories, a. still on wheels treated as a vehicle and are are on rented spaces b. wheels removed, the unit is put on a foundation and skirted, on rented space c. wheels removed, the unit is put on a foundation and skirted on owned land and treated as permanent, which qualifies for a mortgage.

Quote from @Bill B.: Why didn’t you mention the government can tell tenants they don’t have to pay rent for two or three years?

You also have ITIN not sure if you are familiar with that but its for his specific situation especially if he has family members and depending VISA or status.If you have anyone with or "without" a job living under a bridge for example you can still buy a home.

Category A is a single family residence while Category B is multifamily.

I am in Milwaukee, WI and I use the WLB lease format to sign fixed-term yearly leases with my tenants. Additionally, I have a "Notice to Vacate" section in my non-standard rental provisions indicating that tenant and ...