Eligibility for conventional loan - major rehab to rent

[Talal B.]

This is my first post (besides the intro) and I'm very excited to get engaged in a virtual dialogue with this community. So here is my question/ situation ... I have a offer in on a single family that requires some major updating ... Flooring, painting, roof work, driveway, siding etc. My plan is to fix it up enough to get it rented out. My offer was in this morning with financing and inspection contingencies. We just heard from selling agent that this property might not qualify for conventional financing due to the amount of work it needs. I would really value input from you all around what banks look for in financing as far as property condition is concerned. Thanks in advance ...