At $1,250 rent you will have a spread of $750 (NOI) every month after your operating expenses (approximately) that you can allocate to Cashflow and Monthly payments to the seller. 

Think about working backwards at this.What is a (FAIR) amount to allocate to your partner for his part in this.What do you think is FAIR for him to have--the rest is yours.If you try to "Slicker" him or Nickle and Dime him he may not want to re-partner with you.Once you have what you think is FAIR, bring it to him and sell him on it.If he "Has you over a Barrel" and plays hardball to get more money, you will have to assess that situation as it happens.But initially, FAIR seems like a good cut to me.

The 10k for repairs is just my allocated budget for turn overs to clean up units.

IE if the ROI is 200% after 2 years and then gets allocated annually, boosting our credit and providing a modest income to 5 people.

The tenant is asking that we provide trash cans along the store fronts along with service of these cans as part of the "Common Area Maintenance" and allocate the cost proportionately to each of the tenants.

It may be wise to allocate an additional CAPEx allowance our of your Net Income (say 8-10%).

I'm allocating $100 for short term repairs and $100 for long term repairs.Total Exp = 703Cash Flow = 687100% Occupancy = $687 -- Cap Rate equals 16.590% Occupancy = $549 -- Cap Rate equals 13.1680% Occupancy = $410 -- Cap Rate equals 9.8350k at 4.25% over 20 years = 310 monthly payment

You've not allocated anything for capital (roofs, ACs, etc.)

They are trying to shed that off the books.The bank now has say 50 million to allocate to commercial real estate lending for new loans.

I want them to be hand written and addressed so this is going to require me to allocate time daily to do this.