(Bad credit is phone bills to collection and visa often late).The exit strategy is repay the property tax and put on mortgage on an 15 year amort so it will have at roughly 75% LTV in 2 years and refinance with a MIC.My concerns are as followings:If they do not pay I will either lose roughly $20,000 assuming an exit price of $130k or own a property (it's a duplex) that would have roughly IRR of 8% on a 3 year hold in a town that I do want want to own a rental in.The borrowers have enough money to pay as things are now.

Again, I am not trying to sound insensitive, but I have a family to support and this real estate is how I do that so I have my daughter and fiancee to keep in mind as well. 

Currently up to 31 units and am able to live off of my real estate and support my fiancee and daughter.

The back end is housing payment plus visa, auto, student, monthly payment.

Nathan;Assume by conventional you are referring to bank financing.The short answer is there is one answer, for example it may depend on Location of the property (state and MSA)if the investor has a green card or investor visa Property value and loan. loans over a $1,000,000  are easier to secure loans i.e. bank, Freddie Mac, etc..      

But because Monday is when I get to join my fiancee and daughter at swim class.

Also, if you have more than one credit card (MC/VISA), use one exclusively for rental, will help keep track of expenses. 

My fiancee and I are looking to buy our first property, a duplex, and will house-hack it.

The issue is always trips me up vis a vis wholesaling is branch between @Jamie Rost's step 6&7.

Shortly after that, I got engaged and moved in with my fiancee, and now I rent out both units in that duplex.