After 5 months we had a bad water leak under the house.

You can do a duplex though, which might not be a bad idea.With your credit score, conventional might be a good choice, you only need 5% down for 2-4 units if you live in one. 

At least plan B does not sound a complete bad idea now.Thank you!

That would be you.Gail Just because it says malicious doesn't mean the animals were mean or bad.

Now to the bad news: it is REALLY hard to be a 20yo real estate agent and make a living wage, let alone generate cash for a down payment.

To reiterate, I don't need huge profit margins off these and I do want to offer quality rentals but they do need to make sense.  

If you start a JV in name but do not give your partners proper control and decision-making rights and the deal goes bad you open yourself up to serious consequences which can lead to SEC violations with extremely high fines.Lastly, you can offer the project up to investors who have no voting or control.  

Both offered up to $40k, 12-14% rate which is higher but not bad for an unsecured personal loan. 

The units are very utilitarian, in the first listing there are only 2 art pieces in the living room, they are too small for the wall, and they look like they were ordered off of amazon which isn't necessarily bad but it also doesn't stand out.

Quote from @Josh Lansberry: You will hear a lot of people bad-mouth him, but Dave Ramsey can teach you how to get financially savvy real quick.