Hi Joel,I haven't seen this exact scenario, but I did look at an owner occupied 5 plex where they were paying the taxes at two rates- the higher rate for non-homestead and the lower rate for the portion they were occupying.

i.e. land value = ~50k and depreciable building portion =~ 200k.

After I have become proficient at sourcing and selling wholesale deals, I am looking to partner with a successful rehabber in my area to teach me the fix/flip portion of the business with my own generated leads.

Can that child/student have roommates that pay rent for their portion of the property as long as the child/student lives there for at least the 1st year?

Perhaps the guy with $125K can be an equity partner on title with you, so that way he's not in first lien position, and you can find another lender, using the $125K as your portion of the cost.

I'd rather find more sophisticated money and surrender a bigger portion of the deal in trade for greater protection from suit if things go south.

I am looking at a multi-family house that my girlfriend will be using a portion of as a studio for her photography business.

@Cindy KonopasekI am considering a similar deal to what you and you daughter did.Did your daughter pay you rent for your ownership portion of the house?

We are doing a ten hour workshop on just the non-lending portions in Louisville, Kentucky the day before the Louisville Show with an expected attendance of 300, and it will take every bit of that day to get the job done.

We then ask the seller to carry a note for the other portion.