Sure no one gets hurt from your perspective but you're wasting peoples time for your benefit.

-What's a reasonable credit requirement for this [lower income side] area?

I've heard that First Citizens has good products, as well as SC Federal Credit Union.

Show them the risks and benefits of a flip and the passive income of a rental.

Show them the risks and benefits of a flip and the passive income of a rent property.

Rental Agreement + Option to Purchase AgreementRental Agreement: a typical lease agreement with the total amount of rentOption to Purchase Agreement: this includes all the terms of the Lease Option such as Final Purchase Price, NROC (see below for more details), and how much of the rent will be credited back as rent credits (I typically charge above market rents and use that extra amount as rent credits).I have the Tenant-Buyer sign both of these docs and pay me the Non-Refundable Option Consideration (NROC).

Tax benefits' aside - it is the most expensive way to operate a vehicle.  

A bit risky, but it worked.Having said all the above, I did not have the complication of a mortgage on these properties because I used line of credit funding on my principle residence.  

There are many different areas of investing. 1 of the benefits of having a W2 is the ability to get loans from banks.

@Nick AndrewsWhat is the benefit of that equity if it just sits there.