The majority have evictions on their record, don't make enough income or have a lot of debt under their name.Comparing other rentals on Zillow, my asking rent is $1100 while other properties are trying to rent at $1200.

And how much is your debt service, around $6,500? 

Does not affect your debt to income for future loans in the mortgage industry (auto loans could look different, but i would think similar so hopefully no worries there). 

We were running out of money to continue carrying the property, so we took it.We refinanced all our existing debt into a new 30 yr loan for $2M, which was 10 years IO at 8.375% before going principal + interest in years 11-30.

It's the concept of buying the debt attached to the mortgage rather than buying the house. 

. - The money partner doesn’t need to worry about the financing or keeping the debt in their name which may reduce risk for the money partner.Long-term tenant to reduce turnover.

I imagine the only way it would be possible is to do the bulk purchase in cash, sell off a couple and then put debt on them?

Buying in your backyard eliminates so much for you.What strategy do want to follow?   

Quote from @Monty Alston: Quote from @Travis Timmons: You need more income, not more debt.

Speak with lenders - and consider that although they might agree they could lend to you today - they might not be able to when you need the loan.Unless the existing debt has no due-on-sale provision, there will always be a risk of the underlying loan being called.If it were to be called due:1.