And seeing it was on a no interest credit card I think of it as just borrowing money, not going into bad debt. 

Deandre,As a Banker I am not a big fan of borrowing money for the down payment unless its from family or a close friend.

I've helped a few borrowers with this program

Since 2006, we've borrowed over $300 million in private lending and have a 100% track record of paying clients back with principal and interest. 

remember payments may only be 400 a month at best.. 6 months reserves is a whopping 2400 dollars.. so someone theoretically with less than 10k in cash could get into these properties.. this William I personally think is highly dangerous for lender and for buyer... its not losing the 10k that's nothing its getting your personal credit trashed when you can't make the payments because you lost all your cash.IMHO if you want to be in the rental game you need 20 to 30k liquid at anyone time that you don't have to borrower etc.. this will insulate you from taking a loss. as you build units of course its not exponential but you need a base.And since this is not TRUE cash equity only paper equity there is no hope of selling them for a profit or what you have in them.. 

Alternatively, there are programs that will allow borrowers to qualify high LTV with either a US Credit score or ITIN.

The borrower, or house filpper, makes his money once he sells the fixed home.

Our loan agreements state specifically the insurance requirements and the borrower must comply.

For ex: When I applied for PPP (for a non-REI business), we talked to several smaller banks who were only lending to borrowers who already had loans with them. 

You do not own the home so you cannot use its equity instead you are borrowing money based off of the current owners sale price.Using the same banks/lenders Heloc in some cases can be fine since its attached to another home.