This is "possible", but generally not financially beneficial.At the time of distribution, the property will need to be appraised. 

But, I need some coaching as far as financial strategy.I have an 800 credit score and no income (new RE agent) and my husband has a great W2 job but really poor credit due to some major credit card debt (long story).

You focus on what is the maximum you can spend to make money...and don't negotiate (rationalize) against yourself after you found that number.Second, whether you are the buyer or the seller, you focus on what you need financially first. 

The path to financial freedom starts with numero uno!

( I like the idea of a program because of the guaranteed rent but you are absolutely right, settling could come at the cost of peace of mind as well as financially. )Thank you for your insight and advice, its greatly appreciated. 

Prepare your personal financial statement.

Save as much as you comfortably can without also depriving yourself too terribly much.If you have no savings and are highly leveraged, you're one bad situation from serious financial trouble instead of financial freedom.

I have a lot to learn.My goal:  to be a financially stable artist (ideally financially independent-ish).   

I really want to pursue financial freedom and I know the 1st deal is always the hardest step.Best Regards,Brian Tran

I believe we are ready to make some serious efforts to realize our path to financial freedom.So now here we sit with a small, but useable amount of capital and the will to invest, but a little lost.