Two suggestions: Buy it on a lease with the option to purchase or master leaseOr find him a replacement property - this is easily done by hooking him up with a company that offers DST's (Delaware Statutory Trusts).

Thanks for your response After doing some research I found out that the property does need a little bit of cosmetic work I'm doing a walkthrough this Sunday so I will have a better idea of what work needs done the property was once a double that was de-converted, also there is a lien on the property of about 18k which raises great concern, seller says they will take care of the lein at closing.Thats all the info I have for now until Sunday.

They didn't like that payment.So- my guess is that it will have zero effect on your d/e, but they don't use common sense.  

He should be able to do this in a couple of days and likely will setup a Delaware LLC or LP. 

I de-leveraged Prior to the last (Great) Recession and this is probably why I weathered through it without much worry.As a lender, even a niche guy, I've watched who survives and who doesn't.

I hope people understand that the free information and podcasts on this site are worth over $25,000....i will go into where i got that number some other time, lol@de @Dev Horn Quit?

I was in a quiet cul-de-sac with little traffic.

The words you choose should be of Norman-French origin, names like Cadillac, De Ville, Neville, are upmarket, other words are blue-collar, and down market.

I have been hearing about Dolph de Roos books,etc but can't find them anywhere.

You have to see developments like Villa de Mercedes, Mountain Haven and Las Terrazas which have gulf-city-and-mountain views and the upcoming Kembali Coast and be, well, amazed.