If I can obtain the right language in the document to make sure it's a non-recourse (qualified) loan from the owner....is it possible?

Would that qualify as a first time?  

Certainly if both buyers are needed to qualify for the purchase, you could run into some issues.

Have you asked if they would go partners with you for one year in which time you work on qualifying for a new loan and you manage the property as if it were your own.

Like Matt said, for an investment property in Canada you need 20% down to qualify for a mortgage.  

I excelled in generating leads but having a hard time qualifying it and moving further in the procedure.

@Jim Bentley: The process is called QDRO (Qualified Domestic Relations Order) which is a court order issue by the judge.

I would go as big as you and your investor can qualify for with regards to net worth and liquidity.

Smith sends a proposal to the LLC/lender: "We have a buyer who has qualified for a loan if the monthly payment is $500 per month."

I want to get into a duplex sooner rather than later because this job may end at any moment which may make me harder to qualify for a loan (I am prequalified now for up to $360k) since my job history will look less stable.