Are there others who have an ownership claim, like relatives or a former spouse?

A cash out refi only requires 6 months of ownership.

Hey Evan, I'm a bit confused on what the lender is needing for the operating agreement for the 2 separate entities that will have joint ownership on this property. 

Part of the ownership means you could get drug into their financial mess if it goes badly. 

Yes, you pay them back by getting a new loan on the property. 2. 6 months to 1 year of ownership is the norm. 3.

Because of this our ownership system is based off of how much money we have invested.

Though I do see sponsors asking for 2.5% and similar on larger deals like $20M but I feel that is quite high UNLESS they have reduced or eliminated other fees like management fees, disposition fees, etc. or have taken a smaller ownership % by offering the investors a higher one.

If there is no change of ownership then IRS doesn't consider it a sale.

So my question is, if I purchase a home With an FHA loan and I have a Co-owner do we both have to live there due to it being owner occupied? Or can we arrange it so that only one of us lives in the home? I'd like to p...

You will definitely experience higher vacancy rates as the percentage of home ownership is much higher.