The partner in question has multiple times the loan amount in his bank accounts/liquid assets.

I am a loan officer and I have some great software and calculators for this stuff, so let’s set up a call sometime and we can discuss your options.

These are generally business loans based on assets and income of the property often structured as DSCR (Debt Service Coverage Ratio) loans.

Quote from @Joshua Lee: I've read about house hacking the BRRRR method, FHA loans, etc..

Depending on if you use a DACR loan or other alternative financing the LLC might be required.

I am a loan officer, so my advice is just advice.

I am passionate about real estate investing and I am particularly passionate about commercial, small multifamily, single family houses, apartments, notes, condos, mobile home parks, self storage, wholesaling, development, short-term rentals, flipping, rentals, BRRRR, and house hacking.Outside of real estate, I enjoy helping fix the financial goals towards retirement, help people looking for health Insurance, Life Insurance and annuities.

What stuck out to me was their data driven approach to multifamily,  their emphasis on asset management, and the lower (financial) barrier to entry. 

For landlords, lease options can attract tenants who are committed to the property and may take better care of it.Commercial Property Considerations: When considering a lease option for a commercial property in Texas, ensure that:The terms of both the lease and the option agreement are clearly defined and legally binding.Both parties understand their rights and obligations, including maintenance responsibilities, payment terms, and conditions for exercising the option.Consult with a real estate attorney to draft or review the lease option agreement to protect your interests.Here are some things that may help you form a pros and cons list going forward:Advantages:Potential for higher rental income due to the option premium paid by the tenant.Attracts long-term tenants who may eventually purchase the property.Allows flexibility for both parties in uncertain market conditions.Considerations:Ensure the option fee and terms are fair and reflect the property's market value.Understand the financial implications and tax considerations associated with lease options.Be clear about the tenant's ability to exercise the option, including financing requirements if they decide to purchase.Lease options can be a viable strategy for commercial properties in Texas, offering flexibility and potential benefits for both landlords and tenants.

I purchased it for $405k and four years later I sold for $530k plus I had paid down the loan and kept that rent money.