Best bet would be a “partnership” with a monied individual looking for a high risk/high return passive investment with you providing the “active” part.  

They have come to me about buying the home but I have a collection account about to fall off my credit in a few months so I am not sure I would qualify (in addition to my income may not be high enough).Are there any workarounds to maybe purchasing the home?

You would need an extremely high grossing property under market value on a something like a 5 year lease to profit, and you probably will not profit after startup costs until Year 2 or 3.Do not even think of trying it with 1/2 bedroom apartments or condos nor 2/3 bedroom homes. 

IE - these are highly experienced borrowers with prior debt brokerage experience and a full in-house team dedicated to shopping debt for them.

I suspect maybe something like Hagerstown or Cumberland, which yeah are Class D like markets with declining populations, high drug problems, no strong job base which leads to non paying tenants.

Lots of factors, but deciding factor was what what Torren described (waterfall highly favorable to GP).

To answer your question I would highly recommend shopping around on the BP online bookstore and finding a couple of books that stand out to you.

Quick sale and high profits to re-invest.

Some of our deals took 1 to 3 years or more but when we landed them ( being that timber is a high profit business) these were 6 figure net deals..

I highly recommend starting with a basic househack, easy barrier to entry and gives you a crash course in being a landlord who lives on site.