Hello as always thank you all in advance for the shared knowledge. 

I started in real estate without very much in the way of money but I had a lot of time and was gaining knowledge quickly.

I agree that you need a tax expert to weigh in on the best way to handle it now.

I am no expert but based on what I can see prices are rising, so I will assume that we are in some kind of hot market.

However, I am looking for real estate investing to change that timeline.I look forward to interacting with the members here on Bigger Pockets, as I look to grow my knowledge base and network.

I have done enough research to know that it may be wise to invest money that gets a higher rate of return than my mortgage interest paid, but that's the extent of my knowledge at this point.

I’ve found that local knowledge of an area is a huge advantage when it comes to deciding what is or could be a great investment even in a hot market.

It’s a simple in concept but extremely detailed and paperwork / knowledge intensive strategy.

This choice changes the situation for the lender into an equity partnership which increases their risk, which deserves a higher reward, in equity, cashflow and sale.In any case the lender should be on title (like a bank would) to secure some or any colateral.I am a multifamily real estate business owner and not a legal expert, therefore any agreement should be drawn up and executed by an attorney specialized in your field.

Then if your DTI and credit are good you could purchase the second property to live in under FHA.Connect with @Tim Swierczek, he is a local expert who can shoot you in the right direction.