@Jason Sung Yes, this is common.

Is it common to purchase a home with other debt?

Is it common for developers to use subsidies to cover 100% of the construction costs without needing to obtaining debt or raising equity?

Common sense. 

For govvy loans, the Due on Sale clause will be available to your note holder - having an LLC take title to the deed (most commonly via a quit claim) will expose you to this clause.

Whereas if you and the other investors held ownership as TICs (Tenants in common) then you could sell your portion and do a 1031 of your portion while others did something else. 

I'm not sure I would get to cute trying to squeeze every time out of it now with a lease that might cause you issues in the future, but the scenario you describe is common and probably smart. 

Quote from @Anil Shah: Quote from @Derek Brickley: Pretty common, you can definitely use commission as down payment conventional loans and not have it count toward IPC as long as you're on the loan. 

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