Unless you have good construction experience, stick to something that isn't too complicated.

It's going to be too complicated with a partner.

As far as doing a wrap-around mortgage, the transaction becomes more complicated and also, it might trigger the "Due-on-Sale" clause the seller has on their mortgage.

@Lisa Malservisi Cornillot   It's pretty complicated!   

I'll mention that I just closed on a duplex yesterday that was off market and complicated but worth the time/effort to get. 

Rosston is right, it's not a complicated process.

I actually have been already asking some friends for a recommendation for a CPA knowing it was about to get complicated.  

Refinance is also much more complicated than simply going back to the bank and asking for a new refi.

My fear is if we over extend ourselves by purchasing the final home...which is likely going to be much more expensive than the others we likely won't be able to get the mortgage we are looking for and/or future loans will even be more complicated given the fact our DTI will be as high as it is.I believe if we transfer ownership to an LLC this should help side step this situation but I'm not even certain of that.  

It really depends on how complicated the install is, which comes down to access to run wires and location of the cameras.