While listening to financial independence podcasts I picked up on some interesting info.

I suspect by the second time you do this, you would have been financially better off with the landlord locks.  

I was a senior in college studying business management, evaluating my personal financial situation, and determined to be a wise steward of my first paycheck after I graduated, knowing I’d be climbing my way out of about $20,000 of student debt and several grand in auto loans.WhIle searchIng for somethIng productIve to lIsten to on a jog I found the bIggerpockets podcast.Ive learned more from BP than I ever dId In college.Despite math, my wife and I made the personal choice that we’d pay off our student and car loans before we got started.Fast forward three years later we paid everything off and saved $20,000.

I think the main idea of my post is that banks don't typically lend to businesses without sufficient assets and business operations - likewise, banks typically don't lend to individuals without income and credit.

The owners, by definition, are in financial distress and just not in a position to do it.

My main concern is the financial part. 

It was a little stressful as we were footing the bill for the mortgage ourselves for a month or two more than we would have liked, but there lies another benefit of going in with a partner to spread out risk and financials.  

Here's why: Big red flag is that he wants a contract before he is willing to show a potential buyer the financials of the property.

Some of the corespondent investors that we use are: - Angel Oak- Caliber Home Loans- Deephaven Mortgage-Impac Mortgage Holdings- JMAC Lending- Pacific Union Financial- Sprout Mortgage

Just by first glance at the financials, you are getting by slim.