So, things change a bit.If it is his personal home, there are more restrictions.For an investment property, if you take over his financing, read through the deed of trust (mortgage) and see how they handle transfer of ownership.

I will make that proposal to the person I am talking and see where it goes.

Conducted personal research.

Insurance liability, I personally know 2 families that lost their children in home pools.

I personally don't like getting a lot of automated messages when I rent a STR, I'd rather have some more personal contact.....

Quote from @John Friendas: As a person with an average salary, I was wondering what the maximum amount of DSCR loans a lender would give out would look like?

I’m not convinced it makes a real difference unless a person has a unique setting.

For instance, said property manager manages maintenance issues, problems that arise during bookings, basically anything that needs a physical person at the property, while I manage the rest?

This is my first personal mortgage so I'm trying to learn the game.

Well, three top reasons come to mind:It will allow you to deduct their earnings on your own tax return.It is required by law for any person to whom you paid at least $600 in 2023, total.