Also, credit score minimums are higher- often requiring a middle mortgage FICO score of 720 and above.

In some cases, federal tax credits like those for low-income housing or economic development might also apply if the project aligns with certain goals.Instead of buying the land outright, developers often lease it from the tribe, which can reduce upfront costs and sometimes come with favorable lease terms.

You have a great credit score. 

I have over 30k coming in very soon and working on credit score.

In hindsight, they gave loans to people who were terrible tenants, who weren't going to change just because they now owned a house.In response to the Great Recession, higher lending criteria was forced on the industry by the government.

(This assumes you have a credit card available to pay for any repairs.).

I also can take out a home equity line of credit on my current home....but I need direction. 

A partnership requires three things to be successful - Experience, Capital and Time.It looks like you have the capital and experience but maybe not the time.I have my doubts about this working if you have a friend who has weak credit and a limited cash flow.

Most of our newer investors approach 2-3 lenders to discuss loan options.Some lenders recommend making your financing inquiries within a 45-day time period to avoid larger drops in your credit scores.All the best!

I’ve bought some houses with 0% interest for a year credit cards and a few with consumer lines of credit from banks.