If funding is the priority, using a HELOC while keeping the property in your name offers flexibility.This post does not create a CPA-Client relationship.

At the same time, many hosts and investors jumped into STRs during this same time period which created an excess of supply in many travel destinations that wound up saturating those markets.

You are much more equipped to create a win win for you and the seller. 

If a situation arises where landlord and tenant end up suing each other or both being named in a lawsuit, and we're on the same insurance policy together, that seems to create more problems than it solves.

I have been trying toe get a list of the IRS discriminate function indicators to no avail so I'd like to know how you can say that home office no longer concerns IRS.I was just making the note that broad stroke for everyone to add spouse, kid etc to create a partnership has other considerations people need to be mindful of as well. 

Quote from @Michael Klick: Quote from @Jonathan Greene: HELOCs are fine, but keep in mind that you really only want to use 50 percent of less (each) of your available equity just so you aren't creating a problem that you can't solve later if the value of your personal residences fluctuates.If you both have W2 jobs though, have you looked into getting qualified together and just getting a loan, 10 percent down each?

Dover is a very up-and-coming area, the town is investing in creating a River Walk with restaurants, bars, etc. that have outdoor seating. 

I have created and am part of a coinvesting group where we invest passively in real estate syndication deals.

In either case use the contract to create some built in relief - a longer than usual closing period or due diligence period, or finance contingency.  

We created an open concept kitchen to open the space up, added a new rear porch, removing the enclosure and fully renovated the interior.