Also, review the amount of money owed to creditors on this report. 

If you want to buy and hold, you'll need decent credit or have a partner that does.

Keep it simple, search the 203k contractor database, you wildlife one in your area, call a few then pick best one.These are the basics if you need mor help send me a private message, happy to help.Also, check your local municipality where you are purchasing or there state department of commerce or other, to see of they offer a first time hime buyer credit or incentive, you may be able to get everything for $0.00 out of pocket almost.Anyhow, much luck!

Now since you mentioned Property lines of Credit or Business lines of Credit are we talking about Credit cards?  

Obviously, being a young person and not having the highest credit or savings, not the easiest to self-finance deals.

They don't lend based on credit or me, but on the asset it self.  

I would then have a line of credit or credit card ready in the event you have a roof fail and an HVAC go out in the same week before you have built up a reserve.    

If you pay down the balance, you can't get more back, and if you pay it off completely it closes and you have to repeat the entire operation.Get a LOC - asset based line of credit or portfolio line of credit.

If I need funds for something I can pull a line of credit or refinance and get equity out (tax free). 

Far too often, people don't give themselves enough credit or value for the time, skill, and effort needed to successfully source, acquire, and manage a property.Whenever you start a jv relationship you need to make sure you have a clear contract that explicitly states what happens for cash calls, selling the property etc.