If I'm applying for a mortgage, will a bank give me part cash and part finance?

I was placed on the title, but not the mortgage.

I spoke with a mortgage lender from Chase and was told that I need to show 3 years of steady income on my own which may make the lending process a tricky one.

You pay the mortgage, they pay the rent, you both comply with the terms of the lease.On a side note, rent is not 15% above market if there are numerous unauthorized animals in the unit.  

the 3 family arv about 375.000 when finished with repairs of about 46.000 no money down he will hold mortgage wants 270.000 trying to figure if this is a good deal 

However, secured creditors such as a mortgage lender can seek the collateral to satisfy the debt.

That way, I can at least afford on my own to cover the mortgage payment if the property is vacant for an unexpectedly long time.

I happened across this article on rehab loans and thought it may be helpful.http://www.bankrate.com/finance/mortgages/mortgages-pay-home-renovations-1.aspx

The structure seems bulletproof, but I wanted to run it by y'all to see if I'm missing something - thanks for any feedback you can offer.I bought my primary residence for $168K, and paid the mortgage down like a mad dog. 5 years later, I did a cash out refi (30 yr fixed, 3.9%) for $120K, which paid off the $34K left on the note, and used the dosh to buy an $82K rental duplex.

We applied for a mortgage through NASB.