At each bank I obtained an UNSECURED LINE OF CREDIT.

But I don't have the money or the credit to get into multi families.

Starting your business now would give you the credit and history of your company that you could use in the future to purchase homes with loans made out to your company.

What this means is that no traditional mortgage company will finance the home as the 2nd lien holder so if you plan on refinancing or selling the home, you have to pay off the "program" to be able to do so.(3) Some of these "programs" have penalties attached for early pay off or transfer of loan to another.(4)  The interest rates on these "programs" for these loans are high as many of them do not use credit scores to qualify people seeking the loans.Finally, there was a recent news article in my local paper about the "HERO" program [one of the green programs] which warned about using the program for these very reasons:**Beth Mills, a spokeswoman for California Banking Association, said in a telephone interview that any program that makes homes more energy-efficient is valuable, but the financing structure is problematic.

But, how does this concept apply to buy and long-term hold?

Hi @Wenhao Leu  I bought my properties with an Equity/Credit Only program.  

How's your credit?

The 2% rule doesn't take into account any expenses you have and the demand for your area, so certain areas of the country will have different returns and it wouldn't be prudent to apply a rule everywhere.

My college and potential partner,have good credit score (~750+),but he had a public record.The record is account paid,but information is still in his credit report and it is said the record will not removed until 2019.My concern is that can he still get mortgage from lenders?

Other options might include: getting an unsecured personal loan to cover the $20k, persuading a friend or family member to loan me the money, or cobbling together the money from random sources like credit card convenience checks and maybe a Lending Club loan.Problem is, while my credit is good and I have a decent amount of cash to work with, my income is low-ish and comes from four (!)