@Steve Powers is correct that these were mostly originated as owner occupied loans.

I've helped people with SBA loans to purchase real estate for a business, but for buying rental real estate, the DSCR loan is a much better option.

More doors the better if you are using an FHA type of loan.

Quote from @Vince Scipione: Standard would be an FHA loan for your situation more than likely.

Is there a pre existing loan with that bank with either of you?

Build - rent - refinance -repeat. in columbus ohio you are buying old houses that are 1900 or 1920 or 1940 and you are in a sellers market. on the other hand you can source land which is a buyers market and build single family homes or duplex or triplexes that will return by renting and pulling cash out on a DSCR loan and doing it again. there aren't a lot of strategies that do this. flipping is different. so many risks. but when someone has a well oiled machine it's all good and less risk.

The LTV of the loans I’d conservatively gauge at about 35 percent.

They unleashed pandemic handouts and loan programs that greased the economy (this was not well thought out, contributed to the inflationary environment we are still suffering from and PPP and ERP loans were flooded with fraudulent loans and benefits)These programs leveraged existing corporate infrastructure (banks and the government had little or no operational involvement). 

I know that interest on the acquisition loan can be included in the cost basis since it’s inventory.

Please, no solicitations.Use the renovation/acquisition loan products that require 10% down on the purchase and you should be able to get a few going at a time.