A foreclosure initiated by Ocwen won't touch your credit at all as you are in a second lien position and not a direct holder of the loan/mortgage.If the foreclosure starts you might be able to recoup the money or lose it.

When starting out it’s a pretty good deal for someone lend you all the money and you give them 50% of the profits.

Here is one recommendation as you begin your REI journey.Make sure to have your team around you before you start, or as Brandon Turner from the BP podcast calls it, your CORE4. 

Freddie SBL offers 5-10 year fixed rate options, as well as 10-20 year "hybrid ARM" options which start with an initial 5-10 year fixed rate period, followed by a 5-10 year floating rate period.

When I was starting, I focused on building my network, attending networking events, and was fortunate to find a mentor.

At least you have a starting point.

Hope this helps you get started, and good luck with your first property! 

--Searching properties:Size: 0-2 bedroomsPrice range: 300k maxI've started looking on clasificados, and trying to determine where to search.

That is awesome, congrats on getting started!

You're off to a bad start if you must create a poor perception of other options to make your concept look good.