For instance, could I put 3.5% down with a FHA, get a 203k loan to finance the rehab, and then(ideally) flip the property at a profit, at which point I use the profits to to get another FHA loan and repeat the process? 

J Beard( I'm yet to figure out to to tag someone). 

I spoke with traditional banks, small community banks and some private lenders but all of them seem to require a personal guarantee or some other form of traditional verification.

Maybe I'm asking too much given I don't have equity to play with.Would the only way to to do this be to split up ownership given they want to buy and hold just like me?

How do I deal with the verification of financial qualifications if I don't yet have the lenders in place?

There are plenty of no income verification products out there for investor loans.Stephanie

@Amahl Miller I want to add Subject-To to my toolbox.

As stated in the title, I am new to to this game and looking for advice.

Would like to know expected rent for this east bay property, and to to nail down this franchisee on paying fully and on time or boot his butt to the curb.Any/all help or suggestions welcome.

@Craig Koehne The lender you are working with may have the policy that they only count rental income that is only over 2 years old, but there are other lenders out there that will count the income, as long as it can be documented.Some will require the signed lease, and some may even request verification of monthly rent payments or the security deposit.