I'm told the screening criteria credit score is on the higher end .But most of the listings I see are also on the same league.

Prepare financially by saving for down payments, improving your credit score, and setting aside emergency reserves.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

Fico while they will look these are not credit score driven loans like those buying rental houses or houses to live in...

The appraiser gave the house a low score so the bank said it is a risky investment for them and gave me a 70% loan.

Do not let this slide, even if the score impact is negligible.

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

It is a great starting point for what an area is like if you haven't been there before. https://www.areavibes.com/Its gives you a total livability score and helps understand a little bit about the area

Here is a recommendation I have for you as you begin to figure out what area you want to invest in.This website is a great reference point for figuring out what each area is like. https://www.areavibes.com/It gives you a total LIVABILITY score for each street and zip code & discusses crime rate, schoolsUse this rating and classification system I have created over time to get an idea of the "Class" for the area - A class B class & so onHere is my rating & classification for each livability score.80 and above A+78/79 A76/77 A-74/75 B+72/73 B70/71 B-68/69 C+66/67 C64/65 C-60/63 D59 and below FBest of luck and let me know if I can help answer any questions! 

Rates as low as 7.25, depending on credit score and LTV.