I've heard various rumors, bu I'm not in the best position (cash available, lower end credit score) to buy but I have a year to get everything in order.

We're currently saving a good chunk of our incomes each month for a down payment on something and we also have access to a line of credit if needed for potential rehab costs.

Who out there has gone into a local Credit Union or small private bank and actually got a line of credit.  

This seems the best engine to get into buy and hold.While my credit score is in good shape at 793, the down payment is the major roadblock.  

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With late cash infusions, work on the house will get delayed.A better option is to secure funding through a Line of Credit, Private Funding, crowd funding, or some other source where there is no red tape to get a $1000 draw. 

Nice to meet you @Dmitriy Fomichenko and thank you for the welcome and helpful tips!

In other words, a commercial line of credit on the whole value of the property.I've got my eye on a 12-unit complex for sale for just under $500K. 

Do i need a good credit and a w2, because I don't have any of that.  

Recently moved from Canada so I don’t have any credit or verifiable income, but can put a good down payment down (40k) cash or so.