In theory we could buy a house with him and rent it for ten years and break even, pay the debt down, build credit, and later maybe he lives there.

Here are a few potential types:* House hackers trying to figure out how to do accounting (I fall into this category, as I live in one unit of a 2-unit property)* Real estate agents who need accounting software, or transaction management software, or marketing software (I also fall into this category)* Landlords who self-manage and want something to help them with marketing, tenant management, accepting rents, etc., and also need bookkeeping/accounting software.

@Emily Wolters buy a 2-4 unit to live in and rent the rest, via FHA 203(k) mortgage, which has 3.5% investment and  allows financing of repairs.

If you live in one unit and do the house hacking thing, your mortgage gets subsidized. 

Either the owner or the co-host will need to live locally in order to register.

Also, the state of formation is likely where internal disputes would be brought among LLC members, so if you and a partner and/or spouse live in CA, you probably want to arbitrate in CA if the two of you had a disagreement.

We are looking to buy in East/Central Texas, but live in West Texas.

You’re probably better off buying it as a primary and living in half. 

Unfortunately if you are planning on doing anything with the property other than living in it or having a residential rental a residential loan is not going to work here.

I live in a nice area and I can still walk for dollars and find lots of leads.