A couple months ago I was looking at a triplex that came up for sale in a close suburb,   long story short despite suffering from long term poor management, needing substantial exterior repairs, and having damage and 2 vacant and gutted units left over from tenants-from-hell it ended up selling to somebody else for 30% over asking,  needing another 20% of the asking price (at least) in repairs.  

There are also line of credit type options that may work for you. 

Or can I just state that their credit score falls well below my minimum threshold?

While the interest rate tightening does virtually nothing to the mortgage rates, it makes everything else; cars, credit cards, installment debt, more expensive and again, hurts already fragile debt ratios.Hope this gives you some food for thought.Stephanie

., explain that bad things happen primarily by getting bad tenants as a result of poor screening .

What if you wouldn’t typically rent to this person (employment , credit score , etc) and now he’s on the lease, they split, and he’s a problem and won’t leave bc “he is on the lease”.

Notice I have never tried to correct you on our inherent problem. yup one of my homes that's was the case poorly built.. and in Texas were no licenses were or are required.. this happens.. and guess what those are usually the distressed homes.. this market for fix and flip in my mind is for the local pro's I got my butt kicked and will never go back.. and then when your fooling with these homes.. the tax's pile up on you.. and then of course when your just about done you get hammered by a hail storm and have to go through roof replacement..  

It’s probably not fair you drive a shiny new suv while the poor tenant is taking public transportation, it isn’t fair that you have new designer clothes while your tenant is wearing old Walmart clothing .

@Paul Daniels those are the two methods most often used, but if you do not want to go conventional or hard money, you would either have to go with private financing, or using some personal lines of credit you may have.

Do this—— Contract for sale for 12 months—- get a 10-15k credit line at Home Depot (pay off in 60 days!)