I am not planning to get a co-lateral in the loan.

If the applicant has at least some savings, a co-signer with strong financials, good rental history with good references and good solid employment in a recession-resistant field then that would make me feel comfortable moving them in even even with the bad credit.

I once had a co-op in NY, that was managed from a distance as demand was very high, and complex took care of all regular issues; it had other problems though, such as board that decided to limit renting...Factor like supply of potential tenants, average rents one can collect and the ability of tenants in that area to pay are what should drive that desired location.I was always thinking that a nice college town will always have ample demand for rental units, but have no backing data.I will much appreciate that type of advice: what cities should I put at the top of my list for starting to dig.Kindly,Al

I bought 2 properties from a co-worker who was being transferred out of state.

@Dareen Allie, as you've just mentioned about your mom, to qualify for a loan, you can also put your mom as a Co Borrower, that way it will lower Debt To Income (DTI) ratio to help you to qualify for loans. 

To finance this deal I used a co-signed loan, since I am 16 I am not allowed to get my own.

Only other option of achieving financing through this means would be to find a co-borrower who has to be family related (as far as I know).

As a beginner, you can learn a lot from your uncle with a few rentals in another state or a co-worker that's on their second house hack.

So make sure you understand the difference between a co that sells 'turnkey properties' (ie rent ready) and a 'full-service turnkey company' (one company that buys, rehabs, sells and manages rentals in their market, all in-house).

@David Greene is great and I've also enjoyed when @Scott Trench was a co-host.