So Heather,If we work these numbers backwards, use $800 rents and  use conventional financing I'm currently getting through a credit union, which may not be what you get.

I went ahead and submitting info to get pre-qualified with him as well.My mindset was, I might as well talk to a number of lenders and get pre-qualified with a few of them at around the same time so all the credit pulls count as one.

However, you are getting a fairly small return on your equity.

I want them to try hard and finally report it to credit bureau.

I have both mortgages on using my credit and my wife is on the deed only. 

What’s a fair split?

As you were advised above, we do not typically lend to even A Credit borrowers 100% financing. 

Rather, they prohibit the transfer of specific things, such as "services" or "extension of credit". 

Your only option is to offer tenant some money to leave, or reduce your purchase price by the amount you are losing (or ideally ask for a credit at closing).

I’m thinking I’ll look at the comps and compute a fair price based on those numbers instead of the current rent roll.