Unless you are living in the triplex your property will not qualify for the credit.2.

If not, that's my recommendation.Some of your improvements may qualify for depreciation in addition to your building value depending on the scenario.

Now I have equity locked in and couldn’t qualify for a heloc due to credit as well.

A couple hours after I approved their application, another person that actually does qualify and has all funds available now applied.

This usually occurs if the buyer “qualifies” for the loan and an incentive - higher interest rates, transfer fees, etc. to the lender is provided.  3 - the parties entering into  a transaction, take steps to conduct business in a way that doesn’t “alert” the lender to the fact that the property ownership has transferred.  

My focus was on 5 qualified buyers at all times and looking for seller leads. 

To double the value with a rehab would probably require buying a severely distressed property that would not qualify for an FHA loan. 3.

But you should consult with your tax advisor on that piece.You do not need to be a realtor to qualify for real estate professional status (REPS). 

I do have my buying range in mind and I agree with you 100% getting pre qualified would help out a lot determining if that is actually realistic as well as gives me opportunity to start analyzing more deals that are attainable for me. 

Commercial loans require 20-30% down, but you might qualify for an SBA loan with just 10% down if you occupy 51% of the space.