Or like many small in businesses you raise cash from friends family and anyone else that knows loves and trusts you.The other thing I suggest is to make that $27,000 or $37000, or $50000 yourself over the next year. 

The markets open up if you are not planning on doing the management yourself.There are many markets that are growing in population and jobs throughout the country if you are willing to look at OOS investing. 

Located in Kansas. anyone been through this and/or suggestions on what to do? 

I go through the applications and kind of number best to worse(job, salary, references) then if the favorite still wants the property, I run the reports and pay for it.

Then he is going to hire subcontractors to do the job and you are going to pay them for that work as well.  

Is there a alternate way to structure it, please suggest.

I have a job that also affords me a lot of spare time in my schedule and I'm looking to use that time to begin/continue/grow a real estate portfolio.

Nothing is foolproof of course, but having another investor in your market make a suggestion at least gets us on the right foot. 

Any suggestions would be greatly appreciated. 

Many months of costly vacancy, local market rent & resale deteriation, special assessments, property taxes and maintanance fees suggest a quick sale would have been the wise thing to do 2 years ago.