The reason was the way their rental income is shown on their taxes - with deductions it shows that they make $0 from that, so they can't get approved because of that.My question is, if there is an option for me to be a 'co-signer' on the HELOC to help them qualify would you say that's an ok thing to do if it means I can borrow that money to invest.

The person listing the property doesn’t have full ownership rights, and needs the signature of a co owner or spouse to sell, who knows nothing about the listing and wouldn’t sell it at anywhere near the list price It then again what would I know?

I used a CO CPA, so I'm not sure if he works nationally.

It was a co-workers client that had the property for sale & I overheard them talking about it.

If you are held up waiting for a CO because the Inspector wont accept the work with out sign off of a licensed Electrician you will loss any saving by having the work done by an unlicensed contractor.  

My dad is retired and is willing to be a co-borrower on our loan in order to have enough purchasing power to qualify for the deal.

Can the person without a job get a co-signer with a long and current job history just to get the FHA loan?

I needed to get a Co-Sign from my parents however I was able to take advantage of the low down payment.  

The co-owners may enter into a co-ownership agreement that runs with the land.5.

Lastly, I like to see them having at least 5x the rental amount in the bank, strong credit, 3x monthly income or have a co-signer and have good prior landlord references.