How finished does a home have to be to qualify for conventional?

[Julie Marquez]

What level of finish does a home need to be to qualify for conventional financing?

I'm looking at a home north of Seattle that is a two story home that is gutted on the first floor, and completely remodeled and finished on the second floor. This would be a live in flip property.

All the systems are updated, but no drywall hung on the first floor. I assume that I need the walls covered, but how much finish and paint does it need? 

What's the definition of a kitchen? I lived in plenty of studio "micro kitchens" and survived, so what do I need? Just plumbing to a sink and some counters? 

Are subgrade floors enough? Right now it has some hardwood floors, some plywood subfloor.

Basically, I would like to get conventional financing and get away with as little complete before closing so that I can do the regular rehab work myself. Yes, I thought of a 203k loan, but would rather not. Yes, I could do hard money and then refinance when it is all complete too. Does this vary by bank? Basically, what's the lowest level of finish allowable for conventional bank financing?