How do I qualify to purchase an investment property?

That is one option that is open for you, doing an assignment of contract. Another option may be doing a lease option and than a sandwhich lease. That is you leasing the property and then leasing it out to someone else. You could also look into hard money lenders if this is something you want to hold short term. These are a few more options to look at with this property.

If the condo is really greatly under-market then lock the property up and take on a "financing partner".

how would you make this deal? Give the "financing partner" a percentage of the monthly rent, or a flat rate on his money...

Thanks Mark.

Flat rate is better. But if Im the financing partner then I want a piece of the deal.

kind of "financing partner"? like what, put an ad in the paper for financing needed or something like that? SULLY.

Investors, someone like me and you, friends, family members, private lenders and anyone with money.

I went to a friend who has money and told him what i was doing, he sounded intereted.
i found a triplex that was 40% under market and asked him if he put up the money for the down payment i would do the rest and when we sell we would split the profit. his comment to that was,(A partnership would have to be formed. There's also a number of other things that have to be done before you could even think of doing this type of stuff.)
I tryed to explain to him that he would just be the money guy.

so feel out who you want as a partner, it will take time.