Assuming its properly marketed, price is almost always the issue.

My wife and I purchased our property in 2017 and have ~150k in equity (and a lower Mortgage rate due to the 2017 rates). 

She covers the mortgage, that's all.

@Benjamin Lenz ADUS will put a serious dent in homelessness if adopted state wide properly.

However, the issue I have is that I only have 1 year of solid income from the business, the year prior to that is inadequate, and I know most mortgage companies require 2 years of income to qualify.

As responsible Real Estate Investors,  we want to educate them on their options:  Mortgage relief programs, loan modifications, forbearance, short sale, etc. 

Signing it knowingly and selling their short sale property to a family member is Mortgage Fraud.

A friend who is a mortgage borker has been telling me to split the capital into 2 and buy 2 condos with mortgage instead, paying 50% downpayment. 

Considering most properties in this space are of a lower value, you can buy as many as you would like and bundle them into one mortgage.

you will likely still have to come out of pocket on your mortgage payment, which is fine.please do not buy a random property thousands of miles away in a market you don't know anything about because someone on the Internet told you to.