The Partnership would deduct the interest and you should have documentation of the LLC assuming the mortgage.PM me if you'd like that friend's information.You definitely need someone qualified, does not have to be a CPA, could be an Enrolled Agent or an attorney.

Just let me know what exact area you are in via PM.You definitely need someone qualified, does not have to be a CPA, could be an Enrolled Agent or an attorney.

I had insurance prior because there is a partner that was using as primary residence.

I live next door to a foreclosed residence.

Then you will still qualify as a first time home buyer for your primary residence.

I currently reside in Orange and all my portfolio is out of state.

They need some help in marketing but really need our help in navigating the documents and making sure only qualified people come through their home.

Ask them the terms and conditions for qualifying.

I was having an informal conversation with a lender yesterday and he mentioned that house-hacking can provide the benefit of more favorable lending terms, but I didn't get the full details...I'm seeking insight as to whether purchasing a MFR as a personal residence (house hacking) can allow a smaller down payment (20%) or more favorable interest rates than if purchasing a MFR and renting out all units.

I reside in California and focus on multi family projects for my investors out of state.