If one of the persons has a bad credit history, it may be best to leave them out, and execute a separate partnership agreement with the terms for responsibilities and how the profit will be split. 

One  (the good one)  no compains in almost 5 years,  she pays on time (most of the time) her part of the lease,  one time I had a really bad tenant,  she was in her 20s with 5 kids and no job,  Housing authoirty was paying the 100% of her lease but anytime I was on the property she was with  some "visitors"     normally more than 5, after having osme discucions becasue she was not a clean lady I asked her to leave,  the good thing is she moved out without any legal action,  Be careful accepting the tenant,  even they are coming with the voucher,  you need to do your due diligence all the time,  credit score is not an issue but eviction yes Good luck 

And if the report has issues you can see if your seller with A) Repair or B) give credits/agree on an even lower price for the property.Realtors don't typically find me deals - I find the deals, run the numbers, etc.

You spend more money having bad credit than good credit.

I think you're underestimating how hard it'll be with a bk on his credit.

Should we open another line of credit as to increase our available credit?

Basically they are installing solar electrical on their fix and flips during the rehab process, getting a wholesale price on the install, keeping the Arizona Solar Tax Credit for themselves (since they owned the property when it was installed), marking up the house by the retail install price (which they have no problem getting in this seller's market), and then using it as a selling point as the house is now energy efficient. 

Is there anyway to get started with a couple thousand dollars and no line of credit?

I would get the money back as a credit.

I have 100k in savings but not much of a credit history, although my credit score is above 730.