If your personal credit score is low then you can bring a partner to use his credit score.

Credit score- the higher the best. 760+ generally gets best pricing for investment property loans with most lenders2.

So initially I proposed only a 5 year increase knowing that I did not want to have a 10 year lease with rent so low especially if I go to sell the building - it would be an unattractive investment.The new partner proposed to have no increase in the first year, then $50 after every year for the remaining 10 years. 

I am a 16 year old planning to form an LLC under my parents name in order to qualify for business credit to cover the down payment on my first investment property I will also pair the business credit I am able to qualify for with cash and refinance to pay off the down payment when the interest starts to kick in but I am wondering if when applying for a FHA loan on an investment property if they require income to qualify or if they will accept it because I will be renting and covering the mortgage with the rent and how that all works when qualifying and if this is even possible. 

Again, others might feel differently here.3) property level due diligence: (takes seconds to weeks per deal): here is where I drill in with the low-level details.a) pro forma popping: I examine all the assumptions, and see if they are overoptimistic or not.

They are so low that it appears you had no turnover and little to no R&M. 

The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here.

If you see really low rates, that likely means your investment will struggle to make money, and will also be difficult to sell in the future.

If you aren't willing to learn that investment asset, then you can either:1. find someone you trust to help you invest into that asset2. put money in low/no risk investment assets and just accept the low return3. blindly go into an investment asset and basically gamble.

Before considering buying the unit you likely want an inspection of A/C units, roof, parking lot and everything else and try to negotiate a price reduction or credit from seller at closing to repair or replace the items.