To get pre-approved for financing, consider factors like neighborhood demand, cash flow, financing options, and long-term vision.Good luck!

What % of applicants do you approve to become a tenant?

So, I’d dig into the numbers before making a call.Local zoning and code regulations: Converting a multi-family property to a single-family unit might require permits or specific approvals, so check with your local building authority to avoid surprises.

Once they are approved, they sign the lease and accept personal responsibility on behalf of the company.

I’m based in the NY/NJ area, and I’m exploring a few different options:1.Bank Loan – I know banks usually require steady income to approve a mortgage, but would a large down payment (maybe 20-30%) and good credit be enough to get approved?

Quote from @Michael Chalke: Unfortunately, Section 8 increases must be approved by HUD.

We then wholesale it to me, I get a mortgage (I've been pre approved by several companies for 500k) for 400k and take possession as my primary residence, pay back the hard loan, (350 all in for 9 months) and split the difference.

If you have the POF to close on it all cash, you should be able to finance it with a hard money loan and give confidence to the seller that if the loan does not get approved you can still buy it with your own funds. 

However I found that many buildings also had restrictions on MTR such as limiting number of units that can be rented in the building or even requiring HOA Board approval of potential renters.    

If your property qualifies for a higher amount, the housing authority will let you know what they can approve.