I will appreciate any resource that provides a step by step guide to starting the business.

Do they have additional backers guiding them that will give a guaranty also?

Feel free to call.Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

You are then allowed to use 75% of that for qualifying income.For example: If the appraiser estimates $1,600 in market rent, then per Fannie guides, you can use $1,200 towards your qualifying ratios.

The Ultimate Beginner's Guide is now a course that you can now watch.

There are many valuable educational resources here..

Being a first time buyer/investor, I think you would benefit most from reading the Ultimate Beginner's Guide here on the site (www.biggerpockets.com/ubg) ...It'll provide an excellent foundation for you going forward, invest in your education first!

I agree that you need a partner or at least a mentor of some sort to help guide.

Be sure to check out “Learn” for all kinds of useful resources and free how to guides.

If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and The BiggerPockets Podcast.