Hello all, I have a family member that has a decent property 4bd 2b 2 car detached garage on about 1-2 acre value is around $230–250 and if cleaned up and in perfect condition $300+. Now the property is free and clear no liens on it. The family member has expressed interest in adding my name to the deed so I or WE could use it to invest in real estate. Excluding the debate about getting into business with family. What are the downsides or risks that I would be taking by doing this? Thank you hope to hear from you.

You can just partner up with the family member and they can put the house as collateral to get a loan.

I am trying to understand, why this family even wants to add your name to the deed in the first place. What does this family member get out of this? To answer your question about the downside or risks - there might be an existing or a possible lawsuit and you would need to be held liable for 50% of it.

The family member is wanting or hoping to turn the equity into a portfolio with an income stream. They do not however have the knowledge, credit score, or physical ability anymore to fix or get into real estate. They assume adding my name to the deed would make it a better position for me to leverage the house when talking to lenders.

I am with @Simon W., why would someone just add your name to their house? And then the plan would be to get a HELOC on it to invest together? I can't fathom why they would do that unless you were a direct heir waiting on an inheritance and it doesn't sound like that. It also sounds like the property needs a lot of work so that could be a reverse money pit if you are supposed to help do the work there to get it to max value to then do a HELOC on.