But I do put more emphasis on CoC.

The lower your credit score, the lower the allowable DTI (debt to income ratio), so that's another consideration.As for private lenders or lenders that don't follow government or agency guidelines, they typically want a much larger down payment 25-30%, and they will put a much lower emphasis on credit.A local mortgage broker is your best source for accessing these types of programs.

One other thing to note is that smaller community banks may lend on character and put less emphasis on your personal income or debt to income ratio.

I recently picked up a copy of Professional Real Estate Development: The ULI Guide to the Business, 3rd Edition and I can't recommend it enough to anyone interested in becoming a real estate developer.It covers:How to get started in real estate developmentHow to analyze deals (market analysis, site selection, feasibility analysis, etc)How to finance deals (JV, commercial, private, syndication, govt programs, etc)Breakdown of how to develop residential, land, commercial, multifamily, officeAnalyzing real estate cyclesIncludes tons of case studies from all kinds of developersI really like the book because it is extremely practical and not just theoretical, even though the underlying rational is very academic in its approach.The book also makes a very strong emphasis on developers engaging the community as it is become more and more important to get community and political buy-in for successful projects.Definitely worth a read. 

Also, what do you guys think about getting degrees in business with an emphasis in entrepreneurship and/or real estate?

Even though I have gotten a degree in business with emphasis on real estate I got into construction because I felt more comfortable with that.  

What's the best way to form a niche around closing deals with more investor emphasis, i.e., getting buyers/investors to close on deals with creative financing like wraps, lease options, etc.I want to form my residential and commercial business by working with motivated sellers and investors through creative purchases.

For our first few purchases, we are particularly interested in two markets: (1) Central California, with an emphasis on the Fresno/Clovis area; and (2) out-of-state turnkey investing, particularly in Tennessee and/or Texas.

I can assure the only folks who would emphasis such an idea have something sell you elsewhere.

I do place an emphasis on nicer properties in good areas that hopefully with yield appreciation along with cash flow.