What's the lowest credit score you will allow?

Hey Anderson, I am also fairly new to the game.

You may need some help with capital, or credit, or both.

Down payment should be about the same (20% on a buy-and-hold) but you'll see an additional $3-$6k on average in CC and the ability to keep it off of your DTI/Personal credit along with hopefully no more hard inquiries on your credit (many lenders will accept/perform a soft pull).

Get knowledge, follow experienced people, and leverage wisely.My Take:If you have two houses, excellent credit, and motivation to build wealth, you can learn to manage your money responsibly.Use HELOC, credit cards, and business credit funding to leverage your cash and buy properties faster.

All of those people also get credit/background checks. 

Quote from @Kody Smith: without getting too deep into my finances, what my strategy is...1. take loans to buy properties (leverage)2. fix/flip for day to day cash flow income3. use some of the fix/flip income to buy consistent cash flow through:- business acquisition, - commercial properties (MF and store fronts),I have no intention of doing ALL of the management myself, I will hire management as needed (medium term goal)my expected core role is money provider, evaluating the numbers, making decisions, and connecting with investors, wholesalers, lenders, contractors, and property owners.while I am just on step 2 of the journey, I am looking toward step 3 to stabilize, and not worry about if house prices drop mid project or not (or not worry as much) So to be fair this is more about obtaining and growing a real estate business not simply buying rentals for cashflow.

If indeed a loss is taken on this which it sounds like is a fair possibility then if the agent was representing you the agents E and O will/could kick in and that's where you might get some financial relief.

@Amanda Bradley Tenant sounds like typical Class C with a credit score under 620.How hard was it to find this tenant?

If you're targeting Section 8 tenants in Chicago, I'd suggest listing at the fair market rent of $2000.