Talk to a lender and your agent to get you pre-approved so that you don't have to go through the process and let one slip between your fingers if the correct deal arises. 

G'Day Carlos,Personally, I think it's a recipe for disaster rehabbing from out of state.IMO you would need deep roots in the specific market you are looking at investing.Or years long experience of knowing the who, what and when in that specific market.I only know of a handful of folks that can do it successfully and even they have been at it for many years and probably still loose money on rehabs to this day, no matter how integrated they are with everything and everyone.A good resources for pre-purchase, during rehab and after rehab's is Inspectify.Always get eyes on site before buying a property or processing a progress draw for the rehab.Much success

Just to clear up some questions: We do pre-sale renovation and get paid at closing.

Some of the types of products I am seeing labeled as build for rent include elements of the following or these developments are currently incorporating product labeled BFR: Suburban tract built home communities attached and detached townhome communitiesmaster planned communitiesmixed use communities cottage style home communities urban infill communitiespatio style home communitiesnew modernism and new urbanism neighborhoodsstick built small home communities horizontal apartment home communities with greater green space and more community programmingLet's catch up at some point to discuss further.

Start the process for a pre-approval.

Without my BP mentor, I don't know how I would have gotten through it, as the first eviction was 2 months before my wedding and we were landlords less than a year ;)Yes, this too shall pass, and once you get the hang of landlording and get more experienced at screening, things should calm down.

Real estate naturally lends itself to putting more money on the line because of entry prices, and that not only potentially benefits your compounding, but strategies like the 1031 and basic leverage help you maximize with pre-tax dollars.

With all of that being said, does anyone have a legal soft proof of funds letter (pre-approval) that is editable and will work in all 50 states?

Now I am starting to realize this is going to be extremely challenging with 2 Bay Area rentals (acquired pre-2008) and now 3 Indianapolis area SFH rentals. 

Skip the pre-packaged tools and build your own, focusing on the fundamentals.