Silent Partner Homebuyer - Investment

What is the name of your state? TX

Buying a duplex with a friend. Will live in 1/2 - rent out the other. Putting up 1/2 of down payment but buying solely in friend's name to take advantage of better non-multi party mortgage rate and 1st time buyer mortgage rate.

Is there anyway to form a partnership or incorporate on the back side so that I can see the same tax advantages (interest deductions) as the friend? (We will have a written contract either way between us.)

Alternate suggestions?

Thank you.

[HomeGuru]

Originally posted by TexasDFW
What is the name of your state? TX

Buying a duplex with a friend. Will live in 1/2 - rent out the other. Putting up 1/2 of down payment but buying solely in friend's name to take advantage of better non-multi party mortgage rate and 1st time buyer mortgage rate.

Is there anyway to form a partnership or incorporate on the back side so that I can see the same tax advantages (interest deductions) as the friend? (We will have a written contract either way between us.)

Alternate suggestions?

Thank you.

**A: there are several options so consult with a real estate attorney.