They sell units that can be mounted outside and do not need to be separately vented.  

Full inspection will be conducted by 2 separate third party inspectors.

Funds come in direct deposit in to bank account A (1099) 

X Percent stays in account A
Y Percent goes to account B
Z Percent goes to account C

B and C have the option of being Checking or Savings.
MUST Be per...

great info, I am thinking of buying a single family and renting out the rooms separately while I live there, even if it means I have to live in an unfinished basement to make it work. the only reason I am looking at single family is because I cant find multi family in my city for a reasonable price. thanks for your input.Conor McLeod 

Option C, figure out if a roommate situation can work where you'll rent the rooms separately to two individuals to squeeze out some profit or even break even. 

The rental market is $1700/month.What are the formulas for this area that will maximize our cash flow and cover our exposure points (eviction vs foreclosure, repairs etc).We have a rock solid lease but the option (which will be a separate contract) is another story, we would need a good template.Can any locals help with these questions?

., ...Death, disability, divorce or separation, job relocation, financial problems ----> "pre or post" bankruptcy, legal problems ----> civil suits, criminal actions, ...and more!)

That is something you can always have done separately during you inspection.

Loan him the money separately to pay the bank and use a promissory note for that.

Chris,My pleasure to help1TIC (Tenancy In Common) is a type of business structure where the investment is co-owned by a several partners as if each owns a separate piece of investment that can be bought or sold on its own.