Unseen, I take the helm at night,Assuming debts without the light.The creditor remains unaware,That obligations shift elsewhere.A stealthy move beneath the moon,What method makes the shadows swoon?"

If you're 580 because you worked at being a 580 -- one finger salutes to your creditors, etc. -- then you are toast, which is probably just as well.

In short, getting the place restored was akin to remediating damage from a natural disaster.In the trash and belongings abandoned by the tenant, he also left the OM for his healthcare real estate endeavor, nasty-grams from the IRS about his personal taxes, and collections letters from several creditors after him.I got burned here and so did my property manager.

They will have relationships with creditors, or at the very least, know exactly what the creditor's parameters for settlement are. 

Appears the PMC has done a terrible job of communicating expectations with you about their services.Regarding the tenant that wants to pay 12 months of rent upfront:1) They better have great credit or no-go.2) Have them prove they are an engineer with a copy of their degree.3) Get last year's W-2 to prove they were working. --- How will you know W-2 is not fake?

You are either paying with a higher rate to receive a lender credit, or paying the costs at closing. 

The above is true UNLESS as second lien holder you have an INTER CREDITOR AGREEMENT with the first lien holder.

No one would suggest to use their own credit or to take out a loan to buy.  

In my opinion, this program is not suitable for individuals with poor credit or those without at least $25,000 to invest.

Consider FHA loans, working on your credit, or DSCR loans.