I want to buy a triplex in another state. A friend of mine lives in the same state as the property and would like to buy it with me. Do we need to take out separate loans 50/50? I have been searching for information on this all over the net. If any one has any website suggestions, I would really appreciate it!

The owner wants $10,000 upfront and since I have all intentions to buy the property after the lease is up I want to borrow another $40,000 to make updates to the hall to maximize my profit. So I need a total of $50,000. Are there any loans you can obtain in a lease to own scenario?