Partnership advice needed

[Reva Gorbaty]

My friend and I are looking to partner on a small multi family building. We would be purchasing the building as a house hack for myself and going in 50/50 on the down payment. Probably using a 30 yr conventional mortgage with 5% down. We would split everything 50/50.

My questions are:

do we both have to be on the mortgage or on the deed?

If I am living in one unit for less than market value is it better I pay market value and then split the cash flow or just save on my housing expense and she would collect some cash flow?

What are some options for structuring our partnership?

Thanks in advance for any advice!!!!