do you have a buy sell agreement in your operating agreement.. if so follow that formula.if not then you are stuck if you wont accept his offer.its very common for the exiting partner to take a hair cut. 

Depending on the lender and some other factors like size of the loan, generally a DSCR loan will need to show 3-9 months of PITIA in liquid assets, whether that be cash, stocks/bonds account (typically haircut like 10%) or retirement assets (typically 20% haircut). 

Net operating income verified by licensed appraiser with long term lease and proof of deposit minus principle interest taxes insurance and HOA should leave a positive number.verified rents - total payments and sometimes a haircut = + cash flowNeed high FICO score.

Boston median income $81400 or under $6600 monthly which won't buy a duplex or triplex in Boston because the prices are soooo high.Say you found a $1,200,000 3 unit and two of the units rent for $5000 less 25% haircut equals $3750 more income and your payment is $9985  Debt to income ratio is 96% (needs to be 43) assuming you have 20% down and no bills.Look for a duplex it solves the problem. 

Hair cut salon building to 100 story skyscraper.       3.  

I've even originated some loans this year where we were paying off hard money used for the rehab process and these properties had literally no operating history (barely just furnished prior to appraisal) and we still found appetite for 75% cash out/30 year terms calculating DSCR on a Air DNA figure with a slight hair cut. 

If you ask your barber if it's time to get a haircut what do you think he's going to say? 

She still pays the same price for milk and gas and a haircut as a 20-year-old so why would any other commodity be different.Give her 90 days notice and a list of affordable housing options.

I have taken my car to bad mechanics, gotten bad haircuts, bad tailors, etc.

Make sure the lender you're talking to can lend to first time investors, and if they can, if they have any leverage haircut for doing so.