--HELOC is against PRIMARY---Rate is 6.95 first 12 months then prime +2 for a total of 10y, interest only, then amortized--Total HELOC would be purchase price + Renovations (approx 120-130 total but who knows)Projected cash flow is estimated without knowing specific extra costs.  

Hi @Peter MatusI don't have all of the information on your specific situation but that does sound high.

One option is a marine loan, which is a type of loan specifically designed for purchasing or refinancing a boat.

I started this thread to address this product specifically.

Given your circumstances, the following advice and considerations apply:Benefit from low interest rates, no down payment required in most situations, and financing for up to four units when you take advantage of the VA loan.A thorough grasp of your budget should include the purchase price of the property as well as any possible maintenance expenses and other related expenses.

ThanksSuper market dependent and property specific.

Nobody can comment on what's equitable without knowing each partner's strengths & weaknesses and the specifics of the property being purchased but here's what I picked up on immediately: Why not form an LLC and have a partnership agreement? 

Living the dream of house hacking can be a budget buzzkill, right?

Stainless steel is popular, but white can be more budget-friendly.

You should consult with an attorney in your state to make sure that you are using the best asset protection strategy for your situation.Your budget: The cost of asset protection can vary depending on the type of protection that you choose.