It’s just part of the process.

A lot of investors are flocking to Memphis for its solid cash flow potential, and you can typically see strong returns (8%+ cash-on-cash) here, which is a huge draw.The job market is another factor.

Owner occupied loans have allowed us to purchase properties in markets with heavy appreciation, and potential for huge rent increases.

How much will depend on how well their processes are designed.

Sorry for the huge questions. 

I find it hard to come up with reasons when the screening process is being done over the internet.

The fact that you've "put over 5 offers on houses since February" and moved to a different strategy is a huge red flag for me.

So trust is a huge factor here.

All beginners want to jump start the process... but real estate is really a get rich slowly process.  

Typically Conventional will end 42% of DTI and FHA can get up to 51% DTI (and based on your credit score I think you should stretch to that 51%) Just a few things to start thinking about as you are working through the process.