<prompt> Human: first off, I live and work in Virginia, my mother does also. I currently live in an owned home with no mortgage or rent, so qualifying for financing is not an issue for me.I visited my mom over the holiday weekend and received a pretty interesting proposal. My mother and her fiance who is a great guy are currently renting for about 1200 monthly. Theyve been looking for homes in the 130-150 thousand range, but because of my mothers outstanding debt student loans to get her RN and CC debt from starting over after leaving my dad she doesnt feel they will qualify. She does have a 100 on time payments on her credit score, and her landlord only has positive things to say about her as well.Now comes the deal they made me. Theyd like me to purchase the home, allow them to pay all the closing costs, make 24 payments, and then purchase the home from me in two years time. The payment being around 500, theyd be able to make the payment, then put the other 700 or so towards their debt, making them eligible to buy the home from me in 2 years. In exchange for this, my Mothers fiance has offered to give me the cash to pay off my Lincoln MKZ on the first of June the payoff will be in the 7200 rangeNow the questions I wanted to ask:1. Will I be eligible to deduct the interest from the mortgage of the home? I can declare this my primary residence.2. Will disclosing the fact I plan to rent the home to my mother affect the negotiations of purchasing the home in regards to the bank or lender?3. What situations am I possibly forgetting, and essentially, is this a good deal?tl;dr - Mom wants to pay me 7k up front to buy her a home, cover all the closing costs, and pay me the mortgage cost while she cuts her debt down, and purchase the home from me in 2 years.  <response>: Has she actually tried to see if shethey qualify for a mortgage?You cant call it your primary residence if your not living there. I believe it would be consider a rental property and if it is a rental property you would have to charge Fair Market Rent, and take deprecation. I believe the interest rates are typically higher for rentals. I would talk to a tax professional before you do this. 