It is worthwhile to have some equity as a safeguard against detrimental economic conditions.

I held him off until the title cleared (the next day), left work and drove to Chattanooga to give him cash...on one condition.

Where is the property and what condition is the other side in? 

A conservative lender like a bank will want to make sure they don't lend you money only to see the rental income dry up during the life of the loan.Strength of your personal finances - again, the lender will want to be protected if the income on the property goes sideways.What do you think the property's value will be appraised at?

I also want to be wealthy or very comfortable in life and be able to give my girls a great start in life as well.

I also want to be wealthy or very comfortable in life and be able to give my girls a great start in life as well.

Since I agree to buy as is condition, can I still ask for a credit toward closing?

Although we'll be losing a good chunk of cash in doing that, our "debt to income" ratio will no longer be a factor (negatively) and possibly get us better loan conditions.

This year i decided that its a time to start investing in a multi-family as a first investment in my life.

Air conditioning (vacationers).