Does anyone have any advice or references to setup the structure of the business so that we are compliant and that I can qualify for conventional financing while he puts up the equity.

We currently have a major shortage of inventory in this area, so it's not really a matter of "where the best place to buy", but more a matter of "can you find a house you like and actually purchase it?".   

However, the rapid influx of new residents, coupled with insufficient housing inventory, has driven prices skyward, making homeownership increasingly unattainable for many.

A conventional loan proving you income along with the subject property income.

Conventional loans do not I believe.

I'm in Flagstaff, and just like here, Prescott has an inventory shortage.

Have you hit your goals or exceeded them, or are interest rates and low inventory holding you back?

In a low-inventory seller's market, it is a good thing to have a counteroffer like this especially since you're describing a high-demand area in Tampa.

Conventional loan with 10% down at 4.5%.

I'm analyzing a first potential SFH deal on a conventional loan with 20-25% down.