Be prepared to document where that cash came from - in your case, that's easy, your HELOC.Would be happy to help you with that sort of transaction if you want to reach out - I find a lot loan officers are unfamiliar that this option even exists. 

We're on the planning stage, so far I was able to gather or create most of the documentation by myself. 

So 12 months for each property, 36 pieces of documentation, to prove payments were being made on time. 

I can't find any information on occupancy requirements prior to sale for an owner-builder in this state, though it's well-documented in some other states like Texas so I'd be surprised if no guidelines exist. 

This means every mandatory block is filled in, I have a copy of their photo ID, they provided me with supporting documentation, and they have paid the fee.

Fractionalized loans are not legal in Oregon without a security document and blessed by corporate securities I learned the hard way on that one :( Having done HUNDREDS of fractionlized loans when i had my Company in Oregon I had no clue U could not do it in Oregon did not even think to check..

If its clearly spaced out and documented that you are only occupying one at a time while you keep fixing and moving should probably be OK

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

Your proof is a warranty deed.A warranty deed is a written legal document that transfers legal and equitable title of real property from one person or entity to another.

Have some quotes going the DSCR route however fees and rates seem on the higher end, we have 790 credit score, good W2 jobs so documentation is not a problem and we don’t have an issue putting them in our personal names, but have had the MFRs for less than a year and operate out of MD.