With the extra cash flow, you could strive to acquire additional income-producing properties over time.

In the case mortgage foreclosure, I usually offer to pay for the existing mortgage and give them a little extra to move.

Now where is that EXTRA dollar?

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

Also, keep in mind that an IN multi member LLC would require a separate tax return, so you would want to budget for extra admin fees.

Between the equity on the condo and the extra cash you have, you can purchase 2-3 homes. 

However, having an experienced real estate agent or investor in your network analyze comps adds an extra layer of confidence.If you’re focusing on specific markets and ever want to discuss analyzing deals or strategies, feel free to connect, Our firm would love to help you! 

The extra cost to do two separate loans will be worth it, especially if you do not want to be stuck with the loan for a long time. 

It would also have to be put up and taken down between each tenant and I don't know how responsive your PM will be to this extra work. 

Especially as you two plan to start your lives together, you’ll likely want that extra privacy.