With my current financial position, the properties need to have at least 1.2 rent/value ratio or higher, be 75% of value, and $150k or less. if the numbers work out in the near future, i would like to start using hard money lenders for the down payment and closing costs on the properties, and purchase them traditionally. i would like for these properties to also have a 1.0 or higher rent/value, and with my current credit i can get approved for around $150k-$200k, so the property would need to be below that. once i fill up my 10 allowed traditional financing properties, then i would go hard money lenders for down payment / closing costs, and private financing for the long term. by that time though my own portfolio should be able to provide down payments in leu of hard money. your comments and positive feedback / critizism about my strategy going forward is appreciated. i am a brand new real estate investor, finishing up on my first hard money/refinance acquisition now, so im just getting started and looking to grow the portfolio quickly. thank you

I am very interested in getting my first property but do not have much money to put forth as a down payment.  

As part of your due-diligence you will want to take a look at any existing lease and get the rent rolls if possible (payment history) so you can see if the current tenants are paying on time and how much.

Yes, and no.No for Cash:  Someone has to have cash, if you are buying all cash or partial cash (down payment).No for Credit:  If there is a loan involved where credit is a qualifying factor, someone must be able to qualify.Yes for Cash:  There may not be any cash involved, but if there is, it doesn't have to be your cash.Yes for credit:  There may not be any loans involved, but if there is, it doesn't have to be your credit that is used to get the loan(s).

I have about 35k I can put towards this project as a down payment and to fix up the house.

is your only reasonable assurance that the credit repair folks aren't just trying to squeeze the person for as many months of monthly subscription payments as possible (which should be your default assumption about any credit repair person or people). 

They might ask for some type of down payment just know that you have some skin in the game.

I put in the initial payment of 35k which I budgeted for and had the rest of the payments on a monthly basis.

If I can get a refi @ 80% LTV at the 85k, that's 68k and  around 2k out of pocket (+ home equity loan payments + interest) to pay back partner. 85% LTV would be even better.

Just be careful on payment as those transactions have no recourse, once you overpay and you don't like their job, you have no way of getting it back.