p16  "Salzano used this money, much of which was traceable to Fund investors, for an array of lavish personal expenses, including erectile dysfunction medications, expensive dinners, extravagant birthday parties, and payments to Individual-4 (Salzano’s wife), Individual-5 (with whom Salzano had a romantic relationship), and Individual-7 (Salzano’s ex-wife), none of whom worked at NRIA in any capacity."

I'm trying to get used to the timing of when the different payments come in.  

Our Lease Contract doesn't currently say that all payments will be applied to non-rent charges first, oldest to newest, but it also doesn't say anything about how we may allocate the payments tenants make to us.

You will be able to save money on the mortgage payment by having other units to help contribute.

If you are buying or refinancing an investment property, you can use a DSCR loan to finance which doesn't consider your DTI or income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

I have a spreadsheet of how profitable I am going to be with the deal and these are the numbers: 245k purchase price, 20% down (49k) 7.2% interest giving me about $1,330 payments, looking at neighboring rentals with the same layout and interior I can potentially rent it for $2,200 hopefully but I expect the worst. 

This is due to the fact that many lenders provide various loan programs with various periods, interest rates, and minimum down payment requirements.

Other than explaining how his children will continue to receive the payments after his passing what can I do to get him on the positive side of creative finance?

At 7.5% your monthly payment is around $1,400 not including taxes or insurance.

For a fix n flip, if your purchase price is 500k and 200k is the remodel, what is your monthly payment on the 6 months of rehab?