Use that for investment for a period of time (there is again no statutory limit conservative wisdom recommends a year or two), and then change your mind and convert it to your primary residence  Changing the use does no trigger a recognition of gain and once you have lived in it for 2 out of the previous 5 year period and have owned the property for at least 5 years you can either continue to live in the property or sell it and take at least some of the gain tax free (it will be %allocated between qualifying, primary residence, and non-qualifying, investment use)Hard and fixed guidelines are few but the practice is very prevalent and with good guidance and planning you can accomplish this or a variation very easily.

Arranging title, such as Tenants In Common or Joint Tenants, to relate to the equity allocation of each owner on title.  

Additionally, ANY agreement of ANY kind that allows credits  to a purchase price of a covered dwelling by allocating ANY part of ANY payment made by the resident is a financing arrangement.

I make a lot of money and feel stupid begging for money given my financial situation but I strongly prefer to have money in and out my accounts quickly and into the buckets I have allocated… 3600 cash is a decent chunk of change and it sucks to wait on even with tennant paying on time.6.

A much better deal because you can allocate the money whenever and however you want.  

Usually the only way this will work is if the allocation to the actual real estate is greater than your net sale and the down payment on the real estate portion eats up your entire proceeds. 

Only the capital gain allocated to periods of qualified use are eligible for the $250K/$500K Section 121 exclusion.Whether the property was originally acquired in a 1031 exchange or simply purchased for investment rental use does not matter for this new tax rule.Here is an example under the new rules.

If your lender is telling you that your monthly payment will be $1,450, then he is only allocating less than $200 for taxes and insurance, which seems EXTREMELY low.

It depends on what is allocated to building.Also, if hes doing this within a fund he invests in.

He has been helping teach me and is willing to take a chance with me...I have allocated 5k for closing costs, with a small buffer for other fees.