With your Fico and down payment, all you need to do is make sure you pass the debt to income requirements. 

Tenants will prioritize their debts based on reprocutions. 

The list comes out at least 30 days before the sale and the owners have opportunities to pay off the debt anytime in those 30 days. 

You can bypass the longer seasoning requirement with a debt service loan. 

Purchasing subject to allows you to (1) buy a property and pay a lower rate (3-4%) that was in existence when the loan was originated, so cash flow will be better as well as equity buildup; (2) not have to qualify for the mortgage saving time, expense, and allowing property purchases in greater number than otherwise and (3) no personal liability on downside (4) no debt added to your PFS.  

I'm at the beginning of my investment career, fresh out of college and pretty heavy in debt at 7% interest.

Hi Kristi,VA loans do have flexible debt to income ratio requirements, unlike every other loan.

The PPM and Docs are customized for your project so you will need to have it outlined upfront on the structure and payout (is it pref equity, debt and the capital stack etc).

The Seller needs $200k now in order to get out of debt.

There are a bunch of ways to do this depending on the property type, usage, and you (income and credit scores).If this is a primary residence, you can get up to 90% of the value of your home minus any exisitng debt.