But also, with the consumer able to more easily determine the true total cost the elasticity of demand dictates that some will pass or find alternative arrangements and hence bookings in total will be less than otherwise.

These were new builds with the financing pre-arranged by the builder with a large lender when the subdivision first started. 

But even in that segment they are resembling the full blown resort model more and more.

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

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.

House Hack (If You’re Open to Moving Locally)If you’re still renting or flexible with living arrangements, consider a house hack.

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?

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

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.

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