., this isn't the kind of deal you can base on comparable sales. 1.

As I don't have large down payment, I am thinking to start building a portfolio with finding off market deals that have equity and do bit rehab/renovate and later get refinanace to pay off HML with a traditional lender/DSCR loan. please share any thoughts on my plan and any lending resources.

I am in the middle of getting a loan with a small credit union in my area, and recently rates dropped and I asked my lender what the rate was now and he said it was the same for my deal.

What made you interested in investing in this type of deal?

I cannot seem to find any deals in the region that make any sense- or are even close to making sense.

If the deals become as profitable as I hope they will, this would be a good consideration.

I was going to make a detailed post on it, but honestly too busy with live and doing passive deals to be bothered.

Excellent, I will always keep my eyes open to a good deal.

To add to what @Bruce Lynn said, I was working a deal recently in Dallas and I found that there are many restrictions on renting by a room, mainly because you will become a hotel at some point (not sure about the restrictions) in my case I found that the subdivision had a restriction to rent one room. 

Will your partner be upset because you are getting the better end of the deal living rent free(assuming you aren't paying rent).What if only your name is on the mortgage and deed, then the tax documents will all fall on you and your tax return and not his which makes it more complicated trying to shift income to him.If there are two people on the mortgage, it will impact both your DTI ratio's equally in full hurting both of your abilities to get credit in the future until the property is sold.Why can't you do the live in flip on your own?