You can always ask here on BP for users experiences with any particular HML you are contemplating using who are willing to lend to you. 

However, the ultimate return will be based on how the other benefits such as appreciation, if any , play out on the equity side.Sophisticated investors will calculate projected returns, and risk for any investment their contemplating.

Depending on you living arrangements sometimes 203k loans work.

I just need to find that perfect arrangement.

When doing a JV deal where 2 parties are each paying half the downpayment but only one party is on title, what is the best way to arrange the funds to keep the lenders happy?  

Indeed, this is what I’m contemplating.

I would not even contemplate higher since you most likely have that fha loan in your back pocket.

When doing a JV deal where 2 parties are each paying half the downpayment but only one party is on title, what is the best way to arrange the funds to keep the lenders happy?

enter into a landlord/tenant arrangement with someone I could not honestly even imagine evicting. 

I will have to arrange a GTA meetup in the new year.