FHA is for Owner Occupant.
You are not going to owner occupy.
Remember everyone needs to disclose everything in Bank Financing.
Remember any deviation from full disclosure is BANK FRAUD.
Thanks Brian, it made sense in my head, but didn't know how it would play out in real life. I appreciate your reply. Doing anything illegal is the last thing I want to do.
It might be okay if you got the loan and deed in your partners name and the intent is to actually occupy the home for a period. While he is there, there is nothing wrong with doing renovations and flipping it a year or so later. Of course he or she would have to qualify for the loan in their name. You could gift them the down payment. It may be possible to add your name to the deed as well? But I'd be sure to have something drawn up stating the proceeds from the sale of the home will be split 50/50. No different from an investor buying a multifamily, then fixing up the other units and moving out a year a two later. They were an owner occupant. Same as a live in flip.mcheck with a lawyer and or a loan officer