@Patrick GoswitzWhat about doing an IO payment to keep the payment low and reducing the term ? 

Sometimes the I/O interest only option can lower the payment in a situation the rents or the common rents are low to help qualify.Most common DSCR ratio is a 1.00% where the rents are equal to the PITI or ITI.

FL, NY, MD, CA, VA, NJ, Horizon Bank, Kalamazoo MIHuntington MI 75% LTV 5 yr IO product available.

There are now a few website platforms where they list houses with assumable loans like Assumable (I think .io) and Roam.  

I stayed at my friends crash pad a couple weeks ago which I thought was really nice but I’ve heard some of them are dumps.

Mine is a mentor at the start of the pandemic in Ft Lauderdale. 20% down. 3% I/O for 5 years on a million dollar home, now worth at least double.

DSCR only requires that the rents be equal to or greater than the PITI payment or the ITI payment if you go I/O interest only.You can use DSCR for a cash out refinance, Purchase and even a "Rate and term" which is when you want a lower rate or get out of a HML - Hard Money Loan, Balloon payment, Adjustable rate getting ready to expire/adjust (Recast).

Usually if the DSCR is tight we can structure an IO loan with a reduced PPP.

I could call it in but I won't, for the same reason I did this in the first place:  To help him.I am trying to help with a better solution.Quick research shows 10%+ for ITIN loans.I could always give him another 1 year loan at 7, 8 or 9% IO.

IO also is an option if concerned about monthly cash flow.