Worst case they hit your credit w a collection, which won’t hurt it more than 10-15 points.

If you want to be an investor, despite the no money down stories, you will need capital/credit or someones else's to get started.

I can recommend a business LOC that is very flexible as long as you have good credit.

Patrick, I am by no means an expert but my first thought would be to confirm with county property appraiser what the PIN (parcel identification numbers) is described as and if it can be changed or separatedAlso, the tittle company who will provide insurance may be able to weigh in too.Bank or credit union may help with valuation question.

Should i look to investors/ loan/ line of credit and borrow money or wait like a year and save up?

@Destiny Prince Assuming the property is in Kenner, I doubt that any property that you can purchase for $80k will rent for $1300 per month, unless the house is in terrible shape. 

If you're even somewhat active in the purchasing/selling space, I highly recommend you obtain your Real Estate license for the following reasons:- CE credit often overlaps and counts toward both licenses.

That’s more about screening and your rental criteria (credit score etc) than about the fee. 

You have your loan, credit, finance information.You can use your credit card to pay for repairs.

I don't have great credit and it will be my first home purchase.