Since living here I’ve put in a new HVAC in both units and kitchen into one unit, I’ve max out my credit card, and have had my parents help me.

If you’re running a MTR more like a STR, then you can decide to charge the full boat as agreed or, if you desire (possibly to obtain a good review) find a substitute renter for the period in question and credit the original renter.If, like me you operate a MTR more like a LTR just for a shorter period of time, you probably use a specific rental form provided by either the state real estate commission of the local NAR affiliate.  

I’ve been able to calculate all my monthly operating expenses, lowest possible rent, and upgrades.

@Grace Hartman Most of the time sellers offer credits instead of fixing repairs.

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

Our debt was based in a 30 day revolving line of credit.  

Should I assume the in-place IHDA loan at acquisition or close with a conventional loan and try to get IHDA loans/grants/credits later if/when I decide to keep affordable?  

Focus on getting your finances back on track first—start saving and work on building your credit score.

The more complicated your business structure becomes, the more problems it can actually cause such as when looking for lending options, getting the best interest rate, keeping clean accounting, filing taxes, opening bank accounts, getting credit cards, executing a 1031, making title insurance claims or even triggering a due on sale clause, etc. 

How can a seller credit be paid once the closing costs are already covered?