DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

There would be a lease agreement, just no monthly rent payments.

As I understand, landlords there cannot charge application fees, security deposits and evictions are VERY challenging.Have communicated with several PMCs and investors in Ohio market and not aware of any real differences from Michigan. 

you may have to save up until you have enough money to do so - down payment, closing costs, reserves, etc.House Hacking: What Is It, How to Start, and Strategies for Successit's a more powerful way to get started. 

How will the partnership cash flow cover the HELOC payments if interest rates increase?

Make that rent payment out to you and pick up a roommate.

I had specifically asked for numbers including mortgage payments and they emailed to me.

When parents employ their minor child, the child is exempt from Social Security and Medicare (aka FICA) - if under 18.

This means sizeable monthly payments, but if utilizing with Value Add you can pay off the loan without a pre payment penalty at any time.Hope this helps!

So same thing I paid my monthly payment to my bank and kept the rest.