Because his credit was good and the property was in a desirable area, not value wise, but living condition wise, he got 90%/100% financing on project 1 which is pretty good. 

But Gino can you pay your credit cards every month or do you have to carry a balance ?

And since as a landlord with less than 100 homes you are limited to only filing a small claim on the damages and you can not report this kind of tenants to the Credit Bureau, it's worth the price.

Additional Thought - Would a line of credit/heloc against the equity be a possibility?

A lot of investors today are leaning towards credit funds instead of equity.  

@Tanner Johnson Go and talk to the local credit unions and banks in the town or the neighboring town.

I also got a business credit card for buying things related to the rentals. 

Hello BP,Are there business credit cards that don't require a personal guarantee?

I am in my early 30s, zero debt, Excellent credit and currently live in Minnesota (hoping to move to another state in a year or so.). 

If you plan to stay in this home for another year, you can do up to 100% Heloc with several credit unions.