Since my capital is low I was planning on utilizing my credit cards to fund the rehab.

I recently took a realtor CE course and learned due to all the free money the government passed out during the pandemic only 15% of the population have scores under 600.

On the same note I have tried to get her to invest in other properties with me and she is terribly risk adverse and just can’t stand the thought of having her name and credit being attached to a large mortgage even though I have explained numerous times about how the bills and mortgage payments are made by the rent payments. 97% of the time she continues to be supportive of me pursuing the real estate on my own and has been supportive of me retiring from my job to pursue it full time.

The collection sits on their credit report, which may protect the next Landlord who runs a background check.

I have reached out to credit unions, "quick" close FHA companies and I am waiting to hear back. 

If we worked together of course we would have a contract in place about the split, etc.

I recommend a community bank close to the property, to include credit unions. 

We have a set limit that we have for credit ratings.

Additionally, be sure to have a solid business plan in place to present to potential lenders.2) In addition to a construction loan, you could also explore other financing options such as traditional mortgages, lines of credit, or even private investors.

The downside with Heloc is that the rates are in the 12-14 and its not fixed as they are adjustable like a credit card.