I like the concept of keeping things simple.I would buy the property separately without your friend.It might sound fun doing a business with a friend but a business arrangement is almost like a marriage.One issue that I can see is the timing of sale - who gets to decide when to sell the propertyHow much time will each person spend?

Ideally, you’d want them to agree to a cash-for-keys arrangement, but that may not interest them.

At the absolute minimum, a title company could arrange the DOT and also tell you if there are any other recorded liens against this property.

Let me know and we can arrange to meet for a full buyers consultation, covering how the process and purchase contracts work.

That's the nice part about this arrangement...choose your own adventure!

To a lender, well, providing any misleading information in connection with a loan request is mortgage/bank fraud.....period.As to the one providing the letter, you become a conspirator to fraud.If your POF letter contains funds as a loan arrangement, that is then a loan commitment, not the same thing as POF for a lender.

In 2026, they should focus on launching the wife’s business (potentially electing S-Corp status), setting up a Health Reimbursement Arrangement (HRA) for tax-free medical reimbursements, and shifting family income strategically.

If you already have living arrangements - can you pull the down-payment from equity in that property? 

Tell us about your current living arrangement and family - it will impact viable options.Also, how much are you looking to invest?

@Maya Jones - How this can be handled depends largely on the type of property / arrangement of the units and what your lease says.