You can also elect a 40 Year with the frist 10 Years as an I/O interest only or I/O 5YR ARM versus the 5 YPPP and just take a 2or 3 YPPP that should help maxmize cash flow.  

He has been alongside me on the other deals so I’d like to give him equity/skin in the game and I don’t know how else to do itQuote from @Basit Siddiqi: Getting a property with a partner / friend will not help you from getting hosed on taxes.I wouldn't move forward - You mentioned beng a high income earner so your hourly rate is very high.

My local community bank that I had a relationship established with helped me finance this deal.

I'd be happy to connect and see if I can help add any value.

This can help your bank be able to qualify more income.

If your wife isn't on board with another live-in flip, a BRRRR strategy on a rental could still help you grow without uprooting your family.Good luck!

it all depends on the math.I have an excellent Oahu investor realtor referral if you need help sorting it out.

Strategies like living in a duplex or triplex, adding an ADU, or renting by the room can help maximize cash flow while leveraging FHA or VA loans for lower upfront costs.

This is very helpful!

Thanks in advance for any help!