The CONTENT of your credit profile matters more than a "snapshot-in-time" assessment of the risk you represent as a potential borrower (textbook definition of a credit score).My $0.02 ...

OK this is quite simple.your purchase price is 391k  seller pays the lien from their proceeds.. 203k gives you the 50k for rehab you move in..Are you not being represented by a competent RE broker.. this is really remedial real estate and not complicated at all.. and these things are handled daily as you would be surprised how many sellers have title that looks like a rap sheet   LOL.

He represents several investors in new castle and Kent counties.

I would ask your buyers agent, as they represent you in the transaction and should have your best interest in mind. 

Which(Florida) appears under represented here.

When you buy a property with a GR - you can depreciate 100% of the purchase - you don't have to take out 20% that represents the ground since you don't own it.So -- here is an idea - when you buy a house - have the seller create a ground rent (small one) and you are able to depreciate 100% (check with you lawyer before trying this).

At the asking price of $10,850,000, the loan represents a 94% loan-to-purchase price ratio.

My husband (as the sole borrower) had to then list me as an "authorized representative".  

If you're having issues finding somebody who insures rentals at a reasonable rate, ask your broker for the other options that they offer other than the big name they represent.

My advice would be to find a property manager that also represents investors in the purchase/sell of properties in whatever area you plan to invest and try to develop a relationship with them.