Looking to buy my first property as a short term rental in a somewhat local market. As this is a hospitality business and has a time investment, I am considering doing this with a family member (sibling). Meaning a joint mortgage and both of us going in half/half. Generally speaking, I have mostly heard negative things about partnerships in businesses. We have a good relationship and I feel comfortable with the partnership and his financial posture and decision making ability. Are there any particular points I should consider before going into this partnership? Anything to make both of our lives easier?
I am considering doing this with a family member (sibling). Meaning a joint mortgage and both of us going in half/half.
Nope, assuming typical stats etc, all you're doing is disqualifying the both of you from getting individual mortgages. Your trusted local LO can explain why.