Silent Credit Partner Compensation

[Eric Veium]

A friend of mine owns a property 50/50 with another couple. The property is worth $1M. Property has 3 units with $4k+ rent potential The couple wants to sell to move out of state. My friend wants to stay on the property until his parents pass. He owes $50k so there is lots of equity. He is having difficulty qualifying for conventional lending since there isn't rental history (owner occupied) and his business is often cash (unreported income). He makes $5k+ per month with no debt and $1300 PITI. I've been trying to brainstorm pathways forward and would appreciate your advice.

Here are some ideas.

1) Qualify for cash out mortgage ($550k) to buy out partners. Strategies to qualify?

2) Find a silent credit partner to cosign mortgage in exchange for equity. (where to find credit partner? , What % is fair? )

3) Cash out refi with existing partners to cover down payment on new place. Partners earn rental income. However, partners want out of property and want to sell.

4)Sell property with agreement that friend stays on property as renter until parents pass

5)other ideas?

Thank you for your advice and support.