I would work with an STR lender before construction to verify that a deal will be eligible for refinancing.

They will not release the restriction to wire the money to me or do any additional verifying or anything to help me get my money to me. 

You get a credit and take care of the repairs yourself later. if the seller does do the repairs, you can pay your home inspector a little extra just to go back and verify the quality of those repairs.

We did verify many comps for these properties from multiple PM teams prior to allowing the builder to put them on our website.

Is that what you were told or have you verified that with independent sources.

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

To start you’ll want to verify the information the broker is telling you with the city/county.  

Im sure its unavoidable at times since things can happen last minute but whats the industry standard for verifying a property is still on track to be auctioned a day or two before the scheduled date?

It is a full doc loan, so lenders will need to verify you have the DTI to support the line of credit.

It has been suggested to call these people 1hr prior to the showing time to verify they still plan to come.