Quote from @Carlyn Chism:I agree with Chris on a lender that might be a scam or make you may so much money interest because of the low credit score that you make $1.00 on the flip or no money.  

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Most of the lenders I work with (provided you have experience and a credit score over 660) would do up to 85% of the purchase price and up to 100% of the rehab costs, provided this doesn't exceed 75% of the ARV.As for the idea of selling the land, great idea.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

That's pretty low for a 3-BR - I'm seeing the FMR for a 3BR in that zip code is $1,850.But at $1,300 for rent, you'll probably find HMLs that may lend you around $120k if you have a good credit score in my opinion, which means you'll need $45k + closing costs.

Further context, I have zero debt, high 700s credit score, one other investment property here locally. 175k in cash available, looking to do DSCR loans or cash and then refinance.Peoria, Illinois- Great need for lower income housing, market appears to have many options.Lawton, Oklahoma- Looking only at extremely cheap properties, as it seems it’s not terribly hard to find renters.

Boosting your score doesn’t take long, and there are services that can review your credit history and help you increase it within a couple of months. 

Also, credit score minimums are higher- often requiring a middle mortgage FICO score of 720 and above.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Most commercial lenders want a 680 credit score,  or they won't talk to a borrower.