First step....find a local Wxperienced short sale agent.....the bank will require it to be listed for a short time and more importantly someone who Knows what they’re doing needs to put it together, including determining what add’l money a buyer may need to kick in to junior debts Before making an offer. 

The more debt exists on a property from the owner/seller, the worse it is. 

The company has expressed a strong desire to want to hire me before or when my second contract expires.Pay: I make a little over 1K a week (after taxes) with very low reoccurring debt due to me currently living at parents house.Goal for purchasing house: Buy 4-5 Bedroom house.

And he can pay monthly debt up to 2k. 

Where operators get into trouble in larger MF is lavish assumptions going in, placing the wrong debt on the deal, and not stress testing the deal/market. 

I know I know ton of dead equity.. but i like it at my age.. no debt other than super low interest loans on cars..

The only other option is non-agency aka subprime, there is more flexibility on the LTV and income as you can do a No Ratio or Asset Depletion or Bank Statements deposits or DSC (debt service coverage)

Lenders will want to see all sources of income and all debts for the last two years.

The other problem will be having sufficient income, verses your monthly debts, to qualify for the loan.

This meant that the appraiser would then take the current rents, which couldn't service the higher debt level.