I would just tell them at the end of the year lease we can re sign if the living situation is working out for everyone.

I am literally in the same exact situation as you have previously described (Gf's a nurse, interested in the concept, doesn't deal well with information overload or advanced math/numbers, but truly is starting to understand the benefits of passive income, etc)If you wouldn't mind keeping me in the loop and letting me know what you decide to do it would be much appreciated upon my behalf.

They will explain your different options considering your exact situation and then tell you the best rates with different banks.

MUCH different than an upfront purchase. all situations are different. 

Now on the surface it seems like a pretty decent idea; however i have a few questions for them (which i've asked) but  I wanted to know from this groups perspectives the pros/cons that you all may have experienced in similar situations.

I know there are potential pitfalls and lots to figure out about this plan, but I'm specifically curious about how this type of arrangement would affect the owner-occupied mortgage situation.

Is there any risk other than my fiance being upset in thinking i'm taking advantage of a situation of her friend.  

I’d like to know more details about your situation and I’m able to speak the military side of things as well the VA.

I have three main questions..1) I've read on BP that starting an LLC is only really a good choice if you are in a partnership situation, which we are, though my question is whether or not there may be better options for partnerships, other than starting an LLC.. 2) What is the best way to go about obtaining a mortgage in a partnership situation.

HOWEVER, at this point in time and in this market, most sellers won't accept ANY low-ball offers unless they are simply nuts, uneducated, or in a really distressed situation.