A couple of reasons why is:1) The proceeds from the flip only a small portion of my earning for the year (I have a full time W-2 career), so it doesn’t meet the “majority of earned income” qualification; and2) The sole purpose of the LLC is not flipping.

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

Applicant has 3+x monthly rent in income plenty of savings to cover future rent, and would be an ideal tenant, but credit score is 500 due to bad debt on credit cards from a few years ago. Should that be a deal breake...

Because you appear to have no deals in the pipeline, you necessarily can only make the second kind of presentation: one describing your (i) general business plan/strategy for acquiring and turning projects; (ii) market analysis; (iii) a statement of your qualifications/experience; and (iv) references.     

If it's the former, I'd consider any court-ordered child support as additional income and accept her if she met all of my other qualifications. 

As the owner and property manager, I meet the qualifications for a RE professional.

The lender will have certain insurance qualifications.

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

If we decide to go with a Single Family instead due to some qualifications needed for the VA loan what should we look out for?

Mention your investment team’s qualifications in terms of experience (units under management) and your ability to close within a reasonable timeframe as your team has the liquidity and net worth required for funding.