If PITI is less than the fair market rent value - then it is a non-deductible personal property, opening a large can of worms.Finally, if it is to be an LLC property, you will be a part-owner, with various implications for estate planning and family dynamics.I can think of some other issues, too.

Such purchase can be financed, but the loan must be non-recourse according to the IRS rules. 

I would not show a buyer opportunities without a contract or at least an NDA/non-circumvent in place.

Happy to finally be on Bigger Pockets publicly.

If using a lender this is a non issue.

Speak to all tenants involved and if the problem can not be resolved you have the option of evicting/non renewing the noisy tenants lease.

:Drill,  LOL, I guess I considered that one non-optional!

And if it comes to pass that a judge reviews this, what said judge will see is an allegation about someone doing something naughty on the phone versus documented proof that someone lied in writing before a notary public.

And live in the 5th non conforming bedroom.

Bad press + Bad charma = No for MeEven though it is technically by the book so to speak, politics and public perception could turn a great deal in to a great nightmare.