He tried to go to one Hard Money Lender in the area, and they didn't want to lend him the money, and he was using his fiance as a co-signer.

I won't do a co-signor again.

I've started looking from out-of-state as well but have heard Garland is hard on landlords and requires jumping through hoops to get a CO.

Would save you time, money, and the hassle of getting a CO etc... and increase your income@Eder Aldana

I was wondering if anyone knew if a co-op board may be likely to accept an applicant even if that person has filed for Chapter 7 bankruptcy and it's been nine years since the bankruptcy was granted and good credit has been built up over that time? 

Also, he would be using my credit (since he quite literally has none) and having me as a co-owner on the deal.

So to clarify, there is a way to receive cash flow from a co-invested property, but it would depend on the percentage both of us invested. 

We are entertaining this property being a co-housing home.

@Sarah Nguyen I wouldn't have any issues accepting a co-signer remotely, as we sign leases remotely when Tenants are moving here from out of town.

I differ with @Michael SeekerRemember WHO asks for the pre-approval letter - - it's the BUYER, not the lender and that's to assure the buyer that the offer is genuine and not from a lookie-loo.The pre-approval letter will drive the lenders loan approval and underwriting process to produce a specific approval:we will grant a loan on xyz property not to exceed $yyk dollars with a COE on or before mm/yywith a GSI and NOI as represented by the displays from the existing owner.Offers submitted with the PAL and POF for the downpayment certainly get the sellers attention and I never accept an offer without both.