I'm almost tempted to turn them over to a debt collection agency because a buck is better than nothing.Cheers.

Due to my W2 employment I cant have any bad/negative personal debt.

The lender lent based on them being one thing which secures the debt.

•After 3–6 months, apply for tier 2 business credit cards (e.g., Capital One Spark, Chase Ink).

Ensure the STR’s projected income comfortably covers new debt, even with conservative occupancy rates, and maintain reserves for market changes or vacancies.

Did you pay with a credit card?  

Eliminate debt, establish a budget, and save.

They have told me that assuming credit, debt, etc check out fine that I will have enough equity in the land to make the downpayment for the cabin that I want. 

Here are a few alternatives to consider for your next property:One option is debt-service coverage ratio (DSCR) loans, which are specifically geared towards real estate investors.

Sorry , a bit confused Ms dillon, trying to learn more about syndication, are you bringing 50% of the capital for the down payment to buy the property and your partner the other 50% and they are getting the loan for the debt portion, hence getting 50/50?