Run credit and background checks, actually call the listed referrals, and ask for bank statements.

Most of the lenders I work with (provided you have experience and a credit score over 660) would do up to 85% of the purchase price and up to 100% of the rehab costs, provided this doesn't exceed 75% of the ARV.As for the idea of selling the land, great idea.

Quote from @Raymond Kalonji: In your opinion, what would be a reasonable minimum credit score?

Most credit issues can be addressed in some way.

Utilized a low down payment loan, maxed seller credit, tax proration and closed on the 1st of the month to maximize my cash and acquire this property What was the outcome?

If you are not finding good deals money wont find you.If you earn a decent wage and are credit worthy you can start investing by house hacking a multi family with a low down payment mortgage.If you have no money or credit your best best is start finding deals and bringing them to other investors who have money.

Applicant 1 has 509 credit score.

@Jefferson Black- thanks - I am not aware of any lender that  will do a loan on an INV  manuf home property ...you might contact the local small to mid size credit unions and banks in your area ...you also might try the bank that you have  funds deposited at - good luck

That's pretty low for a 3-BR - I'm seeing the FMR for a 3BR in that zip code is $1,850.But at $1,300 for rent, you'll probably find HMLs that may lend you around $120k if you have a good credit score in my opinion, which means you'll need $45k + closing costs.

The credit unions in my area only work with bigger companies so just know I have already reached out.