We were able to play it to our advantage though and get a sizable credit from the seller to compensate for the issue.Biggest learning experience from the whole process is to start everything as early as possible.

If your credit and income are good, you should be able to buy at least 10 before the banks cut you off.Attending those local meetings will also be where you can find some better deals on properties than through the MLS.

You are the one who would get hit with nonpayment credit problems as the lender forecloses on the asset.

You can get an FHA with a credit score of 560 I believe.

There was about $1,200 worth of damage inside and it was disgustingly filthy- not sure how this compares  to you all but it's been our worst clean up yet.  

They pay for their own tenant screening and that is going to tell us credit, criminal and sexual harassment. 

Most rates you see quoted online are for home buyers with excellent credit, putting 20% down on a single family home to live in for themselves. 

@Anthony J Robinson  Hard money loan if you're looking to flip it, or a local bank / credit union (portfolio lender) if you're looking to keep as a rental. 

They would fund 100% of the acquisition and improvement costs with a line of credit on investment properties that are paid off.

Generally, with a 640+ credit score and 5-7% down payment, you can secure a conventional home loan no problem