Welcome.If you're going to need to use rental income to qualify and can't support the mortgage (on paper) with zero tenants, start thinking of a way to check this box:http://imgur.com/Ht6UrwOWorking part time for some property management company on the weekends for a while could do it.If you don't want to check that box, or can't, and need that rental income on paper to qualify, it'll have to be FHA 3.5% down and then refinance a little down the road (owner occupying that multi unit and being landlord of the other units will check the box, 'chicken or the egg' fashion) into VA.

I guess I'm old fashioned - it sure wouldn't work for me.

It's starting in California now, and I think it'll hit us a year or so later, just like everything else, whether it's economy shifts or fashion trends.

They may be a bit too far for you but they did the job in a timely fashion.

If you don't agree, try learning how to ride a bike by listening to an audiobook on how to ride a bike :-)Here are Some Real Life Examples:@James Trautz was able to acquire 3 deals in a few months by working with me (vs. no deals when learning from the gurus)@Elpidio Quiballo, @David Perez and @Jai Sookhakitch were able to do deals by working with me and learning by DOING deals.

@Colton Kennelly I'm not sure most contractors will just be cool riding around with you and your agent while you look for a house you might buy.

If you plan to go ahead, then spend a few hundred dollars with a good attorney to draw-up a partnership/shareholders agreement {depending if you elect to use a partnership or LLC} which defines the obligations & expectations of the partnership and specifies what happens at dissolution and how the process shall occur {all partnerships end}.If you can get the property based solely on your credit, then perhaps your "partner" signs a long-term lease with the company (LLC, partnership) and, if allowed under Minnesota law) pays 1-3 years rent up-front (your missing piece of the downpayment).Creativeness aside, this smells like trouble and your desire to help your friend could lead to making a poor purchase and a bumpy ride for the friendship.

I was able to close in this fashion with Wells Fargo.  

(I knew going in one friend was not going to contribute anything but capital then ride our coat tails for the investment payoff, however went ahead and did the deal knowing I wouldnt have it without including him {he was the connection to the person we redeemed the property from} - we are still friends - I've just laid down the law if he invests with me again - he's putting in majority of the capital and we will talk about equity splits - he wants to invest with me again and agrees to changing the setup)Bought the house for $60k - invested appx $40k including holding costs - taxes, ins, utilities permits etc, (purchased August 2014 - finished rehab beg March 2015 - tenants moved in May 1 2015 - rented for $1495/mo.  

(if that's what you're after) You could ride the wave a little higher, but when it crashes down, you will be upside down.