I was just wondering what banks would think of my controlling the day-to-day of the property and a parter only being passively involved past the mortgage signature with no real skin in the game.

I should have been more accurate and said I've been looking at units in 2 flats and not "condo" buildings with 4+ units that would qualify as commercial structures.

Hello,I went to get pre approved at the bank today and I qualified for FHA.

Invite each of those people to come.  5 will stop by.  3 will apply.  2 will qualify when you run BG and credit.  

Chris is well known on these boards and lending in the Bay Area.Hope that helps.

Normally that boot would be taxable but because she qualifies for 121 that will offset the boot when you do her taxes next year.the tax free money she can do what she wants with. 

There are $100 down HUD homes where a qualified owner occupant can put down $100 for a property and receive FHA insured loan.

I qualify that by stating I only invest in areas that are growing demographically. 

The systems also qualified for very generous rebates from the electric company.

I see you're looking at buy and hold for long-term passive income - but there are few different ways to skin that cat.