I doubt he'll be able to quality for a loan (VA) with just his income. 

However those with no to very limited experience will never get a fix and flip loan  from a bank. 4.

If I got a home equity loan for Property 1 and used the proceeds as downpayment for Property 2 and then got a 2nd loan for the remaining 75% purchase price for Property 2, when I sell Property 2, can I use the Property 1 loan as part of the cost basis for computing Property 2 capital gains?

Here’s how I’m currently thinking about it:The interest rate on my existing property is 3.5%, so I’d like to maintain that rate rather than refinancing the entire loan.

What are your Loan terms and P/I relative to the cashflow after taxes?

Invest in Fix-and-Flip Properties:Use the $50K as a down payment or cover acquisition costs for a non-recourse loan (required for SDIRAs).

FHA and Conventional loans will allow schooling to count as work history.

Depreciation Benefits via Leverage: While you can't claim depreciation personally on IRA-owned real estate, SDIRAs can use non-recourse loans to purchase property.

If so what are his loan requirements?

They finally get back to me after the close date to say they need more time because they are try to cross collateralize their other properties to make this deal happen and the bank they were using doesn't do this kind of loan.