Was considering getting a personal loan, any advice on this or alternative methods?

Both methods of purchase constitute "paying cash" to the seller and to you both maintain similar liquidity.  

It solves the problem of combining the exchanges and how to get your parents out of the way.The complication to this would be how to get your parents made whole for their investment. 

Does it seem like it's solving an actual problem?

Is this a property you are buying to "hold" (like with the BRRRR method) or is this a flip?

If the appraiser used an Income valuation method, what was the market rent they used in their evaluation?

I really want to allow for this person to benefit from this transaction, but I am struggling to find a method where he could.

And it also depends on what loan type you are using, if you are purchasing vs. refinancing (with the BRRRR method for example), etc.  

You're CoCR is a great metric for one of those 4 methods, but it might be better to look at your entire ROI.For example, I have one property that I bought for $99,900 with 20% down plus closing costs, which came to $21,609. $1,245 (Rent) – $549 (PITI) – $124.50 (PM) – $124.50(CapEx + Maint.) – $43.92 (Vacancy budget) = $403.08 Monthly Cash FlowLooking at my CoCR, that comes to 22%.

Also, is this essentially the BRRRR method?