They used to approve these over the counter.

Financing your second property can be tricky since lenders may only count 75% of rental income toward your debt-to-income ratio, so get pre-approved early.

A turn-key provider would be a company that can handle everything from sending you deals that fit what you're looking for, assist in getting you pre-approved for a loan, rehab (if needed), management, and maintenance. 

The city has already approved the permits, and the cost to rebuild the 1200 sqft. house is estimated at around $120K.

Quote from @Jaikevis Reams: In order to put a property under contract I need to provide proof of funds I know that I can get that from a hard money lender but I don’t meet there criteria for a loan approval what should I do? 

Potential Marketing StrategiesShould I directly contact insurance companies to be added to their approved rental property lists?

Can they get pre-approved for a conventional loan and then switch to FHA once the 91-day requirement is met?

We were approved for 300k FHA or 200k conventional loan so we decided to use conventional.

You can still build two separate homes on the same lot, offering investment flexibility.The streamlined approval process is a huge advantage, cutting out the red tape of lengthy public hearings.

The last lender I’ve tried to get a pre-approval had a, imo, patronizing response saying,”Although lots of people talk on social media about buying a three or four unit property with only 3.5% down in practice it almost never works.”All lenders who I’ve tried to give a pre-approval for has tried to sway me to switch to a 5% conventional instead.