GSEs are entities established but not operated or owned by the Federal government to (oftentimes) enhance credit availability, in sectors that have some sort of public good connection like agriculture or housing.

I don't have credit history in the US so I'm not able to qualify for traditional financing through a bank and being approved where I'm from is surprisingly just as challenging.

You said "100% of our funds were investors" then "my capital came from bank Lines of credit NO investors", so wondered exactly how much of the 100% was replaced. 

The bank said they require 90% owner occupancy and since our HOA is only 5 units, we only have 80% of units occupied by owner. does anyone have any suggestions on any banks or credit unions where this may not be an issue? 

@Nadir M. you would show 100% of whatever you collected on behalf of an owner.Of course, if tenant pays via credit card, you would NOT include the credit card fees, because you did not receive them.From the funds in your OPERATING account, you would pay any expenses on behalf of the owner, including your management fees - which you woul transfer to your PMC account.Owner will be paid from Operating account.Your vendors (office expenses, auto, etc) would be paid from your PMC account.Year end, you are require by IRS to send a 1099 with GROSS amount collected on behalf of owner.

Are you able to close the transaction (have enough money (and/or credit) ?

He still got us a decent credit but the work we need to do to get renters is will cost much more than the credit.

Should I follow through with background checks and credit score, waive the application, or something else?

Check with your local credit union.

Major in business (with a real estate focus), start learning through books, podcasts, and investor meetups, and work on building credit and saving money while in school.