An institutional investor with a history of working with syndications in these kinds of deals is going to have a much better handle on fair and realistic fees the syndicator should be collecting for those services versus a bunch of lps that may be working on the first syndication deal and frankly glosses right over those issues when they see 15% annual returns and a nice fat cash bonus on the planned exit.

Get that low down payment and he can start building credit.

It might also be worth looking into establishing a line of credit for future flips, so you have quick access to funds without needing to rely on third-party lenders all the time.If you're interested in exploring more financing options or ways to streamline future projects, feel free to reach out.Best,Drago

They want to make sure you have the credit and not much else. 

Based on what you've shared, here are some options to consider:Leverage Home Equity – Use a Home Equity Line of Credit (HELOC) or refinance to access funds for a down payment on an investment property.House Hack with a Duplex – Sell your home and buy a duplex.

Local Credit unions and small regional banks.  

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

The applicant has solid credit score of 750+ and has a good household income as well.

Your lender will likely base the loan off just one income/credit though (at least that's how my lenders have done it)I would personally advise against it - life is a windy road and you never know when one of you may want out of the deal even if both have full intent to stay in from the onset.

., but it does make things much easier AND give you access too a wide range of benefits, not the least of which is obtaining your SSN and being able to build U.S. credit and access financing.