Some of the projects were with a local partner as well and then the managing chores were split between us.The lending perspective was stiff in the beginning, as I didn't have any experience at all, also no credit score, and that project was only by myself, so the leverage was low, but I could work on a low-price property to start.Fast forward 5 years, I have built a credit score with 2 credit cards under my ITIN of more than 650, and done 4 properties as experience.

The loan can be called, but in the 45 years I have been doing this I can only recall a handful of cases and it usually was Credit Unions or private money lenders.  

Its way easier to take a couple million from a bank or credit union through a Line of Credit than it is to please 100 small time investors with $50k invested.

For example, drop the price to $1,500 but require a credit score of 700+ and a double deposit.

Some of our local banks and credit unions have great deals - much better than national lenders.  

This helps give you a 30,000 over view of what a potential city/zip/street is like https://www.areavibes.com/It gives you a total livability score and this is the criteria I have come up with over time.80 and above A+78/79 A76/77 A-74/75 B+72/73 B70/71 B-68/69 C+66/67 C64/65 C-60/63 D59 and below FCheers from Fort Worth, TX 

What kind of credit score do they have, and is it high enough to meet the requirements of lenders?

You go in front of a judge they appoint a trustee and you make scheduled payments usually smaller than the previous payment until you get caught up and a head.In most cases you can rebuild your credit scores while you are making payments back to the trustee.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

(local community credit union).