currently I'm in the process of rebuilding my credit its going well but not a very fast thing to do.  

All you are required to do is watch a few videos, take some notes, and then write letters: to the various Original Credit Agencies (OCA), like bank credit cards; Credit Agencies (CA) you have gotten collection letters from; to the big three credit reporting agencies (CRA), Experian, Equifax and TransUnion, who report what they receive from the OCAs and the CAs, whether accurate or not.Mike Roberts, founder of Credit Solutions, has a great free program designed to help you rebuild your credit.

You must be fairly adept at fixing, replacing and occasionally rebuilding.

I had a guy quote me approx $2700 for the work to remove the mortar and tuckpoint the stairs and chimney, and another contractor quote me almost half of that at $1400 for a complete rebuild (all new) of the steps and tuckpoint of the chimney. 

If there is a fire, they will rebuild the building, but you would need to put the kitchen, bath, carpet, etc back into place.General Liability covers you against slip and fall types of lawsuits.Both coverage's will probably cost you $150-$250 per year for both.You should try to add this one unit to your personal auto and home owners policy. 

The speaker in that particular meet-up has flipped houses after either rehabbing/enhancing and in some cases re building the entire house.

Well, someone recently told me if I thought about tearing down and rebuilding a new home; I am pretty sure that would cost alot more than $40K right?

So for me I didn't care if the rate was 30%, I just needed to start rebuilding the credit to eventually get the low interest rates.  

My biggest concerns pertain to:-Out-of-state investing-What stipulations are there for financing an investment property located in another state -Deciding on whether to personally obtain the loan or do it through partnership's LLC-If partner lives in area who is highly valuable, but currently rebuilding credit score, would they need to be involved in financing process-When partner's credit is improved, what are the stipulations for the partnership if we decide to utilize the 3.5% FHA Loan or use the partner's VA Loan benefit to purchase a multifamily with a 203(k) loanAny help would be greatly appreciated!

I'm doing this with duplexes, triplexes, and quads, on lots with yards and solid zoning, so that if the party continues forever, I can scrape and rebuild, selling at a huge profit, and if the party slows down or we all get a hangover, I can survive on the cash flow until it gets going again.