I don't know your living situation but if your paying x,xxx for rent or a mortgage and instead by living in one side and renting out the other you will be paying y,yyy instead and y is less then x that's great, especially if you can rent out your primary residence and make income there too. 

I'm skeptical about it working in the situation you describe.

I am not privy to their financial situation.

My husband and I are licensed financial professionals and we love to educate on IULʻs or different types of policies that can assist in situations such as these! 

If you've been in similar situation, have you found it brings an issue down the road with future tenants or current?

Hey man that's a challenging situation.

My fiance and I are in a unique situation as I play baseball professionally, and she works online and plans to live with me during my season.

A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

I know and am prepared to do all the overhead work necessary to find a property that will qualify, but I just want to know if it is possible in my situation.

The seller feels showing the invoice was a favor, it weird situation i am in, has anybody face such situation?