I think a percentage based on the ARV - (Purchase Price + Rehab Costs + Holding Costs + Any Debt Service).

On a good note, I have NO DEBT, NO CREDIT CARDS SINCE I WAS 19 yrs old.

Fourthly, there are lots of ways to structure debt to your advantage.

As a former law enforcement officer there may be something there that will allow you legally to end his lease. 

If everything is done above board and per the Internal Revenue Code and Treasury Regs, isn't it your right to legally mitigate your tax burden?

I spoke with a lawyer who quoted me at $5,000 to create legal documents for this sort of transaction.

Short amort on this one still has a debt service coverage ratio of 1.25 at $1100 per month and jumps to 1.82 at $1600 per month. 

The ITIN is issued to an individual that is LEGALLY in the country and allowed to work.

Unfortunately the bank loan market has become really tough, with the banks tightening restrictions, imposing difficult metrics to deal with and applying commercial rates and fees to my property.I've been able to get a basic commercial loan offer, not what I wanted, but what I could get.  1m loan, 5% fixed rate, 5 year term, 1.25% fees and legal up front, and a lot of paperwork and hurdles to overcome yet to ensure I actually get the loan approved.  

The attorney who set up *my* family trust, doesn't appear to do anything *EXCEPT* that, and hasn't been responding to my messages.That's the only problem with Fremont, it seems to be a legal ghetto (though it's a great place to live!!).