I haven't used it (yet) myself, but banks can offer you lines of credit for a percentage of your retirement account value.

Evidently the buyer's lender required him to pay off his credit card balance in order to be approved for the loan, and the buyer refused/wasn't able to.The asking price is $128,000, but I was thinking of utilizing a BP calculator report (shown here) in an offer to show what it takes to achieve my coveted 7% cap rate and 10% COCROI.

All my contract says about the earnest deposit is the amount, who it will be held in escrow by, and that it will be credited to the buyer at the time of closing.

I want to thank and give all credit to Kidder Mathews.

Evidently the buyer's lender required him to pay off his credit card balance in order to be approved for the loan, and the buyer refused/wasn't able to. 

(I`m not making a ton a little under $500/week)  My question is.. is it possible to get qualified for an fha loan at my age, with not a lot of credit history (Ive had a car loan past 3 years) working these sort of independent contractor jobs?

I have good W-2 earnings and a 800+ credit score.

The other option is hoard cash, build an 720+ credit score and season an entity to enter the commercial market if and when values come down.

Is my current 693 score too low or will it cause any issues with the loan process? 

Also, depending upon credit profile, allowable DTI's to 50% are considered.