Lack of cash or ability to qualify for a loan?

It is purely a numbers game for them and they want to make sure they have a qualified buyer. 

.- if you are under the threshold for the active participation exception, you will most likey to benefit from   your own investment/GP vs LP as the LP interest will most likey not qualify for active participation exception.- If you are a real estate porfessional, the losses from the LP interest will have have to pass a harder hurdle compared to GP if you want to deduct the passive losses.- With GP interest, you could plan your taxes in such a way that you can convert some of your personal expenses into business deductions.  

Now if they can't qualify for any loans I'd see that as a big red flag for selling to them at all.

I already have two massage therapists lined up who would want to rent the offices.

Unfortunately, you won't qualify without steady employment. 

@Dan Wei At this point there is nothing that qualifies this applicant other than she has a "great credit score of 800"-you already ran a credit check?.

I was wondering whether I can qualify for financing for a new property purchase because I really want to move forward with real estate in my life.

The income from the rental units count towards your qualifying income.  

Reporting more income will also help you qualify for larger loans in the future.