Last year, to follow my entrepreneurial spirit, I decided I will clear all my debt, save enough money for a down payment, and buy a house in 2016!

@shanel, To protect yourself as a tenant buyer, I would first go down to a mortgage loan originator with a 1003 application which is a standard federal mortgage application, and ask him her how does my credit,  income history, FICO, debt to  earnings look to you?

I am aware that there are new crowdfunding rules but i'd like to know how to handle new equity and/or debt investors and if we offer a basket of properties how to handle current and future investors. 

If one of those properties starts to become low in occupancy and can no longer service it's debt, can I borrow from the other LLCs that are within the fund to pay for the struggling asset?

Land has no potential for income, only debt and holding costs.

A lender (bank, credit union, second tier) is going to look at your income and your ability to service your existing debt (credit cards, vehicle, mortgage, rent, etc).  

If you have minimal or no other debt you should be able to qualify even with a lower income.  

Some are scared of debt, others want as much as possible. 

. - Identity theft while in escrow, causing the underwriter and I to get a zillion pings about new debt, throwing ratios way off.

This is a unique situation where we want to offer Person 2 30% of non-voting stocks, but the end game is Person 2 gets to have 50% of net profit for providing financial backup up to 500k in the form of supplier debt or cash on projects that we present Person 2.