@Jerry PadillaI have three homes including my primary residence.I'm trying to finance a 4th home.my credit score is in the 650 range.

I'm sure other banks do this to but American Financing dose requires a 700+ credit score for approval.

However not for the Bp forum- pros and cons of entity type, taxation, asset protection, liability, income, those working in the business and those who put money into the deal, buy outs, death, debt, who signs for debt, credit scores, divorce, partners relationships going south, etc. are some of the things that should be considered.  

Some tips would be:-save up down payment money-know your credit score and debit to income ratio-you will need 2 years of tax returns -you will need 2 months of bank statements-you will need to show 2 years of continuous employment in the same field -you will need a realtor who has experience or specializes in working with first time home buyers Hope that helps!

I have credit score of 760 and would be able to put 20% down on the property but I do not have the income history.

The subletter would still have to pass my screening criteria (credit score, proof of income, landlord references, background checks), so it is really no different than me finding someone from an ad. 

I wanted to see if there are optimal credit scores (its fair right now) and cash positions (only about $800 saved up) for financing a deal.

Thats great but I know they will likely appreciate at a lesser rate than a B or A class. 

An FHA loan is only available for first time home buyers, and you need to live in the property for it to quality.You can find 80% if you have a good relationship with a local lender, a great credit score, and solid W-2 income. 

So that’s two of the most important steps in the bag.Things going for me:-I have a good “WHY”-capital for down payments/rehabs-good credit score -good W-2 income -small amount of debt-bankable-great local bank relationshipThings not going for me:- TIME!!